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At the open: Boeing takes off, lifting Dow

U.S. stock market indexes opened with another round of gains on Friday, driven by commodity producers and Boeing Co., while the Canadian benchmark index slid into negative territory.

The Dow Jones industrial average rose 35 points or 0.3 per cent, to 10,814 - putting it on track to post its ninth consecutive day of gains. The S&P 500 rose 3 points or 0.2 per cent, to 1168.

Commodity producers and associated firms were generally strong, with Alcoa Inc. up 1.2 per cent and Caterpillar Inc. up 0.7 per cent. As well, Boeing Co. rose 2.9 per cent after it announced that it would boost production on its 777s and 747s to meet rising demand.

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However, Palm Inc. skidded 18.4 per cent after it estimated on Thursday evening that its fourth quarter revenue would be just $150-million (U.S.) due to low demand for its smartphones.

In Canada, the S&P/TSX composite index fell 8 points or 0.1 per cent, to 12,032.

Potash Corp. of Saskatchewan Inc. fell 1.4 per cent and gold producers were also weak. Goldcorp Inc. fell 0.5 per cent and Barrick Gold Corp. fell 0.8 per cent.

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About the Author
Investing Reporter

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense. He worked at the Financial Post as an investing writer and daily columnist before moving to the Globe and Mail in 2008. More

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