The Dow Jones Industrial Average turned firmly higher late-morning on Thursday as the average tried to shake off weakness in one of its most influential components. The Dow was up 200 points, or 0.8%, at 24,955, even as Boeing’s shares [: BA] were cutting about 20 points from the benchmark, down 0.8% or $2.50. A $1 move in anyone one of the Dow’s components equates to 6.89 swing in the equity gauge. The industrial giant has encountered struggles on the back of sharpened fears that recently introduced tariffs on steel and aluminum imports could spark a trade war, which in turn could whack multinationals like Boeing. Boeing’s shares have declined 7.6% so far this week and are threatening to post the worst weekly loss in abut two years, according to FactSet data. Boeing is one of number of companies that might face retaliatory responses from trade partners, notably China, market participants worry. Shares of the industrial giant were off its lows of the session, however. Share climbs in Goldman Sachs Group Inc. and UnitedHealth Group Inc. were helping to more than offset Boeing’s slump. Meanwhile, the S&P 500 index was up 0.3% at 2,757, while the Nasdaq Composite Index climbed 0.2% at 7,513.
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