The Dow Jones Industrial Average punched into the green late-morning Monday, with the blue-chip gauge shaking off a slump of one of its most influential components in turning solidly higher.
The Dow was recently up by about 110 points, or 0.5%, at 25,573 after shedding as many as 242 points at session lows of 25,208, on the back of a withering decline in shares of Boeing Co. which was under pressure after Sunday's crash of its 737 Max 8 aircraft, operated by Ethiopian Airlines. Shares of Boeing, one of the price-weighted Dow's 30 components and its most influential by dint of its share price, were originally down by about 12%, which had been exacting a more than 300-point toll on the blue-chip index. Boeing's shares, however, have pared their losses, standing off 6.6%, while shares of technology giant Apple Inc. was helping to lead the Dow and the broader market higher. The Dow's intraday rebound comes as the S&P 500 index already was trading solidly in the green, with the broad-market index up 1.1% at 2,772, while the tech-heavy Nasdaq Composite Index advancing 1.5% at 7,518.