"Buyers showed up during the second part of the session," said Adam Sarhan of 50 Park Investment, who considers the market's jitters over bond yields overblown.Among individual companies, Boeing rose 1.0 per cent as it unveiled proposed changes to flight software on its 737 Max aircraft, which have been grounded following two deadly plane crashes in five months.
Boeing's plan came as the head of the Federal Aviation Administration, which must approve the fixes, faced tough questioning from Congress concerning its certification of the planes. Southwest Airlines, which has grounded all 34 of its Boeing 737 Max 8 planes, said flight cancellations from that and other factors would result in US$150 million in lost revenues in the first quarter.
But shares of the predominantly domestic US carrier rose 2.2 per cent after the company said customer demand remained strong. Other carriers, including United Continental and Delta Air Lines, also rose.
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