The Dow Jones Industrial Average (^DJI) was down 34.29 (-0.07%) points today, currently trading at 47,706.51. The primary narrative driving the market was the release of the February Consumer Price Index (CPI) report, which showed headline inflation holding at 2.4% year-over-year. While the data met consensus expectations, persistent "sticky" core prices have led to concerns that the Federal Reserve will maintain high interest rates through the summer. This cautious outlook was reflected in Dow Futures (YM=F), which was down 206.00 (-0.43%) points as geopolitical tensions in the Middle East further dampened investor appetite for risk.
The index's performance was heavily weighed down by Boeing (BA), which was down -2.97% to $217.76. The aerospace giant disclosed a "machining error" involving scratched wiring on several 737 Max aircraft, a setback that is expected to delay near-term deliveries. Other notable decliners included Salesforce (CRM), down -1.91%, and Chevron (CVX), which was down -1.59% as oil prices stabilized near $87 per barrel. IBM (IBM) was down -1.41%, and UnitedHealth Group (UNH) was down -1.16% amid broader sector rotation.
Conversely, industrial and networking stocks provided a necessary buffer. 3M (MMM) led the gainers, up 2.39% to $155.25, while Cisco Systems (CSCO) was up 1.96%. Heavy equipment leader Caterpillar (CAT) was up 1.78% to $716.68, signaling continued strength in domestic infrastructure. In the technology sector, Nvidia (NVDA) was up 1.16% to $184.77, and Honeywell (HON) was up 1.27%. Retailers also saw gains, with Home Depot (HD) up 1.11% to $357.15 as housing market sentiment improved.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.