Wall Street Rebounds Despite Boeing Worries

Wall Street snapped a five-day losing streak on Monday, despite sharp losses early in the session for Boeing following Sunday's crash involving one of its a top-selling passenger jets.

The gains for US stocks recovered much of last week's lost ground and came despite data showing weakness in the American retail sector.

Shares in Boeing fell 5.3 percent for the day, paring earlier losses of more than 12 percent that threatened to wipe out tens of billions of the company's market value.

Two of the company's highly popular 737 MAX 8 jets have crashed in five months, after the latest tragedy killed all 157 passengers crew aboard shortly after take-off from Addis Ababa.

The benchmark Dow Jones Industrial Average, in which Boeing's stock is heavily weighted, rose 0.8 percent to 25,651.

The broader S&P 500 jumped 1.5 percent to 2,783 while the tech-heavy Nasdaq rose a solid two percent to 7,558. (AFP)