Dow and S&P rise, Nasdaq declines amid continued fears of virus effects
US, WASHINGTON (ORDO NEWS) — US stocks are trading unchanged on Wednesday after a significant rebound the day before, as optimism about $ 2 trillion incentive measures subsides, and concerns about the continued economic impact of the pandemic remain.
Reports that Washington reached an agreement on incentives to help companies and millions of Americans support the market, but fears of an impending global recession and the likelihood of corporate defaults put pressure on it.
“Markets will remain very volatile until one of three things happens: either the number of new infections in the US reaches its peak, some medicine or vaccine appears, or the US economy starts to reopen,” said Randy Watts of William O’Neil + Co.
By 6:30 p.m. Moscow time, the Dow Jones Industrial Average Index rose 2.41% to 21.204.23 points, the S&P 500 – by 0.64% to 2.463.10 points, and the Nasdaq Composite fell 0.22% to 7.401.23 points .
Boeing Co papers soared 28% after sources said the company plans to resume production of 737 MAX airliners by May after a several-month stop following a flight ban after a series of crashes.
Nike shares rose more than 10% after the company reported higher than forecast quarterly revenue and said sales in China were recovering thanks to online orders.
Securities of American Airlines, Carnival Corp, MGM Resorts and Norwegian Cruise Line Holdings jumped 13-23%.
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