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Dow loses ground

Jan. 16, 2013 at 5:51 PM   |   Comments

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NEW YORK, Jan. 16 (UPI) -- The blue chip Dow index lost ground Wednesday, dragged down by U.S. jet maker Boeing.

Boeing stock dropped 3.38 percent after All Nippon Airways grounded its 787 Dreamliner fleet for inspections after one of its new jets was forced to make an emergency landing, The Wall Street Journal reported.

Boeing wasn't the only Dow component in the red. Sixteen of 30 Dow companies were down at the close and 13 were higher. That leaves one: Coca-Cola, which closed dead even on the day.

The Dow Jones industrial average staged a comeback from earlier losses, climbing from 66 points behind to a loss of 23.66 points, or 0.17 percent, to 13,511.23. The Nasdaq composite index added 6.77 points, or 0.22 percent, to 3,117.54. The Standard and Poor's 500 gained 0.29 points or 0.02 percent, to 1,472.63.

On the New York Stock Exchange, 1,385 stocks advanced and 1,630 declined on a volume of 3.1 billion shares traded.

The 10-year treasury note rose 4/32 to yield 1.825 percent.

Against the dollar, the euro fell to $1.3286 from Tuesday's $1.3305. The dollar was lower at 88.48 yen from 88.78 yen.

In Tokyo, the Nikkei 225 index dropped 2.56 percent, 278.64 points, to 10,600.44.

In London, the FTSE 100 index lost 0.22 percent, 13.33 points, to 6,103.98.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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