Boeing Delay Wipes Out Two-Thirds of Friday's Dow Gains

The Dow Jones Industrial Average (DJIA) shed two-thirds of Friday's gains on Monday after Boeing announced that it would not receive certification for its 737 Max 10 until a software issue is assessed.

This news caused Boeing to close nearly 7% lower, which weighed more heavily on the index than Nvidia's $150 billion buyback announcement, which rose 1.7% and added less than $4 per share to the DJIA.

The delay in certification for the 737 Max 10 will impact new deliveries rather than planes already flying, as US airlines have switched back to older software where necessary.

The index closed just under 51,500 on Monday and has fallen in six of its nine sessions since the Fed raised interest rates on September 16, with futures indicating a 70% chance of another quarter-point increase in October.