Market participants on Tuesday received a print on the Bureau of Labor Statistic's Consumer Price Index for February.
Boeing Co, the best performing Dow component this year by a wide margin, tumbled 10.7 percent, and was on pace for its worst day in almost two decades after many airlines grounded the company's new 737 MAX 8 passenger jet.
Boeing fell 12 per cent after the second deadly crash in six months involving one of its new 737 Max planes. Later in the day, the European Union Aviation Safety Agency also suspended Boeing 737 Max 8 jet operations, saying it "is taking every step necessary to ensure the safety of passengers".
The share price drops helped push down the S&P/TSX industrials index by 0.76 per cent to be second only to the consumer discretionary index for losses on the day. The Russell 2000 index of smaller companies picked up 0.96 points, or 0.1 percent, to 1,549.83.
The benchmark S&P 500 index gained 8.22 points, or 0.3 percent, to 2,791.52.
The S&P 500 last week registered its biggest decline since the end of 2018 after tepid job and other economic data, but the index is up about 11 percent for the year so far.
But once again, the DOW lagged behind, being pulled lower by Boeing (BA). Welcome to the unusual world of how the stock market keeps count. The Bank also noted the company's woes as "opportunity" raising its 12-month price range to $210 up from $180. The headline figure rose 0.2% month-on-month, as expected, and 1.5% year-on-year. Analyst Mark Kelley, in a note to clients, noted that customers were focusing on messaging and Facebook's stories format.More news: Eder Militao's highlights show Real Madrid have signed a future world-class player
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The rose 14 points or 0.52%, while the tech-heavy increased 63 points, or 0.86%.
The Commerce Department meanwhile reported USA retail sales had recovered slightly after a dismal December.
U.S. data that showed inflation was low helped boost stocks since it lessened the chances of the U.S. Fed raising interest rates, said Taylor.
This, however, comes in the wake of Apple's shares which surged 3.47 percent putting-off some of Boeing's losses.
Further details revealed the drop in December was the biggest since September 2009 when the economy was emerging from recession.
The dollar fell more steeply shortly after data revealed that the US consumer-price index climbed 0.2% in February, matching market expectations, while the cost of living over the past year slowed again to 1.5% from 1.6%. February's retail sales report, which was scheduled for publication on Thursday, will be released on April 1.