US stocks rally for second day as investors await $2-trillion aid package

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Business News News

Boeing surges 30% as investors bet on government support for the aerospace industry

A nearly empty 42nd Street in New York, the US, March 25 2020. Picture: ANGELA WEISS/AFP

Boeing surged 30%, bringing its gain over the past three sessions to over 70%, as investors bet on government support for the aerospace industry as well as airlines. American Airlines Group, United Airlines Holding and Delta Air Lines each jumped more than 15%.

"What the fiscal and monetary stimulus has done is to allow the market to recover," said Justin Hoogendoorn, head of fixed income strategy at Piper Jaffray in Chicago."It's not because the main street community is coming back. It's the institutional crowd being able to say, 'the world isn’t falling apart'."

Data due on Thursday is likely to show US weekly jobless claims surging to 1-million as companies announce layoffs and as state-wide lockdowns force businesses to shutter stores.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks surge as Congress nears deal on US stimulusDow Jones Industrial Average up over 9% for the first time since 2008 while dollar halts its 10-day rally
Source: BDliveSA - 🏆 12. / 63 Read more »

Stocks rally advances on German, US stimulus plansIn New York, the Dow Jones index was up by 5.5 percent in afternoon trading, while London and Paris closed with gains of 4.5 percent.
Source: TheCitizen_News - 🏆 6. / 75 Read more »