Dow Jones Sinks as Boeing Stock Soars, McDonald’s Supports Franchisees

An early gain was wiped out by late Thursday morning for the Dow Jones Industrial Average (DJINDICES: ^DJI). The Dow was down about 0.5% at 11:05 a.m. EDT, with a strong performance from Boeing (NYSE: BA) unable to push the index higher. Uncertainty surrounding the reopening of the U.S. economy continues to weigh on investors' minds.

Boeing stock was up on Thursday thanks to some optimism from an analyst. While demand for air travel is close to nonexistent right now, a strong recovery over the next few years is expected. Meanwhile, shares of McDonald's (NYSE: MCD) headed lower following a report on the scope of the company's efforts to help franchisees.

Shares of beleaguered airplane manufacturer Boeing have dragged down the Dow this year as the company struggled with two separate crises. First, the grounding of the 737 Max put a strain on Boeing's finances and marred its reputation. Second, the pandemic has decimated demand for air travel and led airlines to pull back on orders and deliveries. Boeing stock is down more than 60% from its 52-week high, with much of that decline happening in the past few months.

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Source Fool.com