After hitting new highs almost every day last week, the Dow Jones Industrial Average (DJINDICES:^DJI) is up slightly to another all-time high today after China reported mixed economic news over the weekend. As of 1:15 p.m. EDT the Dow is up 38 points, or 0.26%, to 14,435. The S&P 500 (SNPINDEX:^GSPC) is up 0.21% to 1,554.
There were no U.S. economic releases today. On Saturday, China reported that year-over-year inflation in February rose to 3.2%. At the same time, the government reported that industrial-production growth had slowed to 9.9%, while retail sales growth slowed to 12%. China's economic numbers are always suspect, so take these with a grain of salt.
Rising inflation with slowing growth will be of concern for the Chinese government and could lead to monetary tightening later in the year if the trend continues. These concerns had some economists lowering their growth expectations for China from 7.5% to 7%. China is such a large part of the world economy that investors should be aware of what is going on in the country. Slowdowns in China can have ramifications around the world, particularly in the commodity markets.
The Dow finished last week at 14,397, just below the all-time intraday high of 14,413 it hit earlier on Friday. Today it looks set to best both those records.
Today's Dow leader
Today's Dow leader is Boeing (NYSE:BA) up 1.6% after Randy Tinseth, marketing vice president of Boeing Commercial Airplanes, said at a conference that Boeing has found a permanent fix for the battery problems that have grounded the 787 Dreamliner since January.
Regulators in both Japan and the U.S. have so far been wary of Boeing's plans to fix the Dreamliner. Reuters quoted Tinseth as saying, "It is a solution that we believe provides three levels of protection for the airplane, and it's a solution that we're confident will ensure safe and reliable service for the 787 in the future." While the Dreamliner is experiencing some well-publicized problems, these are being overblown by the press and will just be a blip in the 30- to 50-year future of the Dreamliner.
Dan Dzombak can be found on Twitter @DanDzombak or on his Facebook page, DanDzombak. He has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Does a Strong Start Make 2018 a Sure Winner for Stocks?
Find out whether the so-called "January effect" is real.
Meet the 2018 Dogs of the Dow
Learn the basics of this simple dividend-investing strategy.
The Dow's Worst Day in 2017
Even with big gains, there were some scary times for the average.