Dow Jones News: Apple Production Problems; Boeing Upgraded
The Dow Jones Industrial Average (DJINDICES: ^DJI) was rallying Monday morning, up 0.28% at 10:25 a.m. EST. This is despite the ongoing coronavirus outbreak that originated in China. The virus has now claimed more than 900 lives and infected over 40,000 people globally. The death toll has surpassed that of the SARS outbreak in 2003.
The coronavirus is threatening the global economy by disrupting supply chains and hurting demand. Shares of Apple (NASDAQ: AAPL) were down on Monday as its dependence on China for manufacturing threatened to cause supply problems. Meanwhile, Boeing (NYSE: BA) stock rallied following some optimistic analyst commentary late last week.
Workers were scheduled to return to work at Chinese factories operated by Foxconn on Monday, but it seems that the situation isn't so cut and dried. Foxconn, which assembles Apple products including the iPhone, has reportedly told some employees that it's postponing the resumption of production.
Source Fool.com
