US equity markets closed lower on Friday (10 January) but the benchmark indices still logged solid weekly gains - Dow down -133-points or -0.46% after briefly topping 29,000 for the first time. Boeing Co fell -1.91% after the company released internal emails that painted a disturbing picture of its 737 Max program, with employees bragging about fooling Federal Aviation Administration (FAA) regulators and ridiculing its safety. The emails were part of more than 100 pages of documents sent Thursday (9 January) by Boeing to House and Senate committees that have been investigating the aircraft maker in the wake of two crashes in 2018 and 2019 that killed a combined 346 people. The broader S&P500 eased -0.29%, with Financials (down -0.78%), Industrials (-0.71%) and Energy (-0.64%) leading eight of the eleven primary sectors into the red. The technology-centric NASDAQ slipped -0.27%. All three benchmark indices set fresh intraday highs. For the week, the Dow rose +0.66%, S&P500 +0.94% and Nasdaq +1.75%.
