The Dow closed down -23.66 (-0.17%) at 13,511.23.
Boeing (BA) shares fell 3.4% as the aircraft maker’s Dreamliner continued to face problems. Two Japanese airlines grounded their fleets of 787 aircraft after one of All Nippon Airways’ Dreamliners was forced into an emergency landing this morning.
Hewlett Packard (HPQ) did offset some of Boeing’s losses. Dow component HPQ shares rose 4% on reports that unspecified technology companies have expressed interest in acquiring two of HP’s businesses, Autonomy and EDS.
Before the open this morning, JPMorgan (JPM) said it earned $5.7 billion, or $1.39 a share, in the fourth quarter. JPMorgan’s earnings were in line with expectations, but revenue was hurt by declining fees and subdued trading activity.
The U.S. government’s key measure of inflation showed that consumer prices slowed to a 1.7% annual increase last month, mostly due to a decline in gas prices.
Industrial production rose 0.3% in December.
The yield on the 10-year Treasury note was up to 1.83% from 1.82% on Tuesday.
Dow winners were led by HPQ (+4.11%), BAC, INC, JPM and DIS.
Dow losers were led by BA (-3.38%), T, VZ, MRK and MSFT.
Dow stocks hitting new 52 week highs include JPM, JNJ, MMM and TRV.
BAC, INTC and UNH report earnings tomorrow and GE reports on Friday. See this mornings post for the times.
And life goes on.