Dow Jones Drops 100 Points as Boeing Comes Under Scrutiny, Apple Stock Resumes Decline
An early rally gave way to a decline on Thursday for the Dow Jones Industrial Average (DJINDICES: ^DJI). The Dow was down 0.5% at 1 p.m. EDT today after initial jobless claims for last week came in higher than expected. The Labor Department reported 884,000 initial claims for the week, flat from the previous week but above the median estimate of 850,000 from economists surveyed by Bloomberg.
Shares of Boeing (NYSE: BA) lost ground on Thursday following a report that the company had agreed to an independent review related to bidding practices for its lunar landing vehicle. Apple (NASDAQ: AAPL) stock was also lower, giving back some of Wednesday's gains.
The problems facing aircraft manufacturer and defense company Boeing go beyond the grounded 737 MAX, manufacturing issues with the 787 Dreamliner, and depressed demand for air travel due to the pandemic. Reuters reported late Wednesday that Boeing would submit to an independent review of its practices related to its bidding for lunar landing vehicles.
Source Fool.com
