Wall Street awaits monthly Fed meeting
The Dow traded 4 points higher, erasing earlier losses. The 30-stock index’s gains were capped by losses in Boeing, however. The S&P 500 added 0.35 percent and the Nasdaq rose 0.5 percent, but their gains were kept in check by a slide in Facebook.
Facebook shares fell 2 percent after an analyst at Needham downgraded the company to hold from buy, citing worries about Facebook’s pivot to privacy and encrypted messages as well as the possibility of more regulatory scrutiny.
Boeing fell more than 2.5 percent after The Wall Street Journal reported the Department of Transportation and federal prosecutors were scrutinizing the development of the company’s 737 Max planes. This comes after an Ethiopian Airlines flight involving the 737 Max 8 jet crashed last week.
