Yahoo Finance Stocks - S&P Struggles on Brexit Storm, Boeing Changes, Tech Weakness
Investing.com – Stocks on Wall Street fell back modestly Tuesday, buffeted by political undertainty in Britain, tech weakness at home and a big change at Boeing (NYSE:BA).
The S&P 500 slipped 0.36% and fell back under 3,000 after just one day. The Dow Jones Industrial Average fell 0.15% on weakness in Travelers Companies NYSE:TRV) and McDonald’s (NYSE:MCD).
The Nasdaq Composite fell back 0.72% on weakness in such as stocks as Facebook (NASDAQ:FB), Advanced Micro Devices I(NASDAQ:AMD) and Microsoft (NASDAQ:MSFT).
The S&P fell back in part because of the uncertainty from Britain after Prime Minister Boris Johnson lost a key vote on taking the United Kingdom out of the European Union. Parliament voted against Johnson's fast-track timetable putting into doube the ability to leave with a deal by the Oct. 31 deadline, and it may lead to new elections.
Boeing (NYSE:BA) shares moved 1.9% higher after the aerospace giant said Kevin McAllister is stepping aside as president of Boeing Commercial Airplane, the division that makes the now-grounded 737 MAX airliner. He is the highest-profile executive affected by the crisis that erupted when two 737 MAX planes crashed and killed 346 people.
Boeing (NYSE:BA) reports third-quarter results on Wednesday and CEO Dennis Muilenburg is expected to testify before Congress next week.
Meanwhile, McDonald's shares, down 5%, weighed on the Dow and other fast-food stocks after earnings missed estimates. Chipotle Mexican Grill (NYSE:CMG), which reports after the close. was off more than 3%.
Oil prices moved higher on speculation OPEC may order more production cuts next year. OPEC meets in December.
Gold Futures were little changed. Interest rates were higher.
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