Stocks rise, 5 day losing streak is over

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The Dow jumped 201 points, or 0.8%, on Monday, recovering from an early slide of as much as 242 points.

The S&P 500advanced 1.4%. The Nasdaq soared 1.9%, its best day since January 30.

Boeing (BA) closed down 5%, sharply rebounding from a plunge of 13% during early trading. Some foreign airlines grounded Boeing’s 737 MAX 8 jet after 157 people died aboard an Ethiopian Airlines flight that crashed Sunday. However, US carriers American Airlines (AAL) and Southwest (LUV) expressed confidence in the Boeing jet.

“The market’s ability to rally so strong today in light of the weakness in BA is impressive,” Paul Hickey, co-founder of Bespoke Investment Group, wrote in a note to clients.

Spirit AeroSystems (SPR), which makes Boeing 737 MAX fuselages, fell 4%. 

Tech stocks were very strong Monday, with Facebook (FB) advancing 1.5% and Nvidia (NVDA) soaring 7%. Apple (AAPL), which announced plans late in the day to hold an event on March 25, jumped 3.5%.

The rally represents a rebound from the 2% slide for the Dow and S&P 500 last week, which was the worst of 2019. 

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