Dow Jones Industrial Average gives back Friday's rally on a Boeing delay
A software bug at Boeing (BA) cost the Dow Jones Industrial Average more points than a record $150 billion buyback at Nvidia (NVDA) put back. The index closed just under 51,500, handing back about two-thirds of Friday's rally.
Boeing's software issue cost the Dow Jones Industrial Average more points than Nvidia's $150 billion buyback, as the index closed just under 51,500, reversing about two-thirds of Friday's rally. Treasury yields increased again, and the upcoming Federal Reserve meeting in October will determine if they follow the inflation and jobs data.
The FAA stated it would not certify the 737 Max 10 until assessing the newly flagged software issue, and Boeing's stock fell nearly 7% to its weakest level of 2026. The index weights its 30 members by share price, so Boeing's loss of over $12 a share negatively impacted the Dow more than Nvidia's gain of less than $4. Nvidia's $150 billion purchase affected the index less than Boeing's market value, which is about the same as Nvidia's new authorization.
The 10-year Treasury yield rose above 5.2%, nearing the highest since 2007 and 2004, while the Fed raised its rate to 3.75%-4.00% on September 16, with a 70% chance of another quarter-point increase on October 28. The Dow has fallen in six of the nine sessions since the Federal Reserve's rate hike on September 16.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
