US stock markets today: Wall Street dips as Boeing sinks after London-bound Boeing 787 Dreamliner crash, soft inflation lifts Fed cut hopes
US stocks edged lower Thursday as Wall Street lost momentum from its recent rally, with losses in Boeing weighing on the Dow and Oracle offering some relief with a strong earnings report.
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The S&P 500 slipped 0.3% in early trading. The Dow Jones Industrial Average fell 246 points, or 0.6%, while the Nasdaq composite lost 0.3% as of 9:35 a.m. Eastern, AP reported.
Boeing was among the biggest drags on the Dow after a crash involving one of its aircraft. The company's stock tumbled 5.5% after Air India reported that a London-bound Boeing 787 Dreamliner crashed shortly after takeoff from Ahmedabad airport, killing all 242 people onboard.
The cause of the crash remains under investigation.
Meanwhile, a second straight day of favorable inflation data helped ease Treasury yields. Wholesale inflation for May came in below expectations, a day after consumer inflation showed similar softness. The data raised investor hopes that the Federal Reserve might resume interest rate cuts later this year.
The 10-year Treasury yield dropped to 4.36% from 4.41% on Wednesday and from about 4.80% earlier this year.
Jobless claims data also influenced the bond market, with a slightly higher-than-expected number of Americans filing for unemployment benefits last week. The total number of claims remains at an eight-month high, further bolstering the case for potential Fed easing.
Fed policymakers have kept interest rates unchanged so far in 2025, waiting to see the full impact of President Donald Trump's renewed tariff policies on the economy and inflation.
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On the earnings front, Oracle shares surged 9.6% after the software giant posted better-than-expected profit and revenue for the quarter.
Global markets were mixed. Hong Kong's Hang Seng index dropped 1.4%, giving back part of its strong 2025 gains. European and other Asian markets saw mostly muted moves.
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