US close: Stocks mostly higher as Boeing and cruise lines surge

26 March 2020

(Sharecast News) - Stocks on Wall Street finished mostly higher by the close on Wednesday, with Boeing among the leading risers, after reports that lawmakers had agreed on a $2trn economic relief bill that included measures aimed specifically at the aerospace and defence engineer.
The <strong>Dow Jones Industrial Average</strong> ended the session up 2.39% at 21,200,55 and the <strong>S&amp;P 500</strong> added 1.15% to 2,475.56, while the <strong>Nasdaq Composite</strong> slipped 0.45% to 7,384.30.

According to Chris Beauchamp, chief market analyst at <em>IG</em>, with the US stimulus bill set to pass, investors could now be less pessimistic about the short-term economic outlook - but not optimistic.

"Former Fed chairman Ben Bernanke is right in that the current crisis is more like a natural disaster than the 2008 financial crisis, which might mean a faster recovery, but the flow of bad economic data will be replaced in due course by disappointing earnings figures," Beauchamp said.

"Only some heroic assumptions on future guidance can rescue what promises to be a dark earnings season, with all the attendant downside for stocks that this implies."

The latest batch of macroeconomic data was mixed, with the Department of Commerce reporting that total durable goods orders increased at a 1.2% month-on-month pace to reach $249.41bn, compared to consensus expectations for a decrease of 0.8%.

Still, the underlying details of the report were a bit weaker, as excluding transportation, orders fell by 0.8% against January, which was more than double economist projections of a 0.3% fall.

House prices, meanwhile, increased at a 0.3% month-on-month pace in January and at a 5.2% clip year-on-year, with the latter the same as during the previous month, the Federal Housing Finance Agency said.

Economists had anticipated an annual increase of 4.9%.

In equities, <strong>Boeing</strong> shares were ahead 24.32%, alongside hefty double-digit gains for the likes of <strong>Norwegian Cruise Lines</strong>, which rose 23.08%, and <strong>Royal Carribean</strong>, which was 23.5% firmer.

<strong>Dow Jones - Risers</strong>

Boeing Co. (BA) $158.73 24.32%
United Technologies Corp. (UTX) $96.19 10.87%
Nike Inc. (NKE) $79.09 9.24%
American Express Co. (AXP) $90.17 7.28%
Unitedhealth Group Inc. (UNH) $234.49 6.68%
Coca-Cola Co. (KO) $41.61 5.48%
Exxon Mobil Corp. (XOM) $37.29 5.22%
Visa Inc. (V) $161.78 4.69%
Chevron Corp. (CVX) $69.27 4.09%
JP Morgan Chase &amp; Co. (JPM) $91.73 3.73%

<strong>Dow Jones - Fallers</strong>

Walgreens Boots Alliance, Inc. (WBA) $41.44 -8.42%
Walmart Inc. (WMT) $109.40 -4.89%
Cisco Systems Inc. (CSCO) $37.67 -2.41%
Procter &amp; Gamble Co. (PG) $100.92 -2.28%
Intel Corp. (INTC) $51.26 -2.18%
Travelers Company Inc. (TRV) $92.18 -1.66%
Home Depot Inc. (HD) $181.76 -1.60%
Merck &amp; Co. Inc. (MRK) $68.22 -1.20%
Microsoft Corp. (MSFT) $146.92 -0.96%
3M Co. (MMM) $131.54 -0.89%

<strong>S&amp;P 500 - Risers</strong>

AFLAC Inc. (AFL) $36.73 26.18%
Boeing Co. (BA) $158.73 24.32%
Norwegian Cruise Line Holdings Ltd (NCLH) $16.96 23.35%
Royal Caribbean Cr (RCL) $42.41 23.03%
Marathon Petroleum Corporation (MPC) $21.11 20.63%
LKQ Corporation (LKQ) $20.00 17.92%
Sysco Corp. (SYY) $45.65 17.11%
Macy's Inc. (M) $6.61 16.78%
Apartment Investment &amp; Management Co. (AIV) $30.45 15.88%
Delta Airlines Inc. (DAL) $31.10 15.66%

<strong>S&amp;P 500 - Fallers</strong>

Target Corp. (TGT) $91.04 -9.47%
CenturyLink Inc. (CTL) $9.05 -9.05%
Walgreens Boots Alliance, Inc. (WBA) $41.44 -8.42%
Alliance Data Systems Corp. (ADS) $38.59 -8.33%
Kroger Co. (KR) $27.94 -7.33%
Hormel Foods Corp. (HRL) $41.94 -6.49%
Helmerich &amp; Payne Inc. (HP) $17.00 -6.03%
Texas Instruments Inc (TXN) $99.16 -5.88%
Vertex Pharmaceuticals Inc. (VRTX) $210.09 -5.84%
Gilead Sciences Inc. (GILD) $69.66 -5.81%

<strong>Nasdaq 100 - Risers</strong>

Ross Stores Inc. (ROST) $81.29 13.57%
Wynn Resorts Ltd. (WYNN) $75.06 12.77%
Align Technology Inc. (ALGN) $183.68 11.13%
Expedia Group Inc. (EXPE) $65.89 10.78%
Cintas Corp. (CTAS) $192.33 10.66%
American Airlines Group (AAL) $15.39 10.56%
Booking Holdings Inc. (BKNG) $1,365.85 8.45%
Ulta Salon, Cosmetics &amp; Fragrance Inc. (ULTA) $191.88 8.05%
O'Reilly Automotive Inc. (ORLY) $298.92 7.86%
Marriott International - Class A (MAR) $85.25 7.72%

<strong>Nasdaq 100 - Fallers</strong>

Walgreens Boots Alliance, Inc. (WBA) $41.44 -8.42%
Texas Instruments Inc (TXN) $99.16 -5.88%
Vertex Pharmaceuticals Inc. (VRTX) $210.09 -5.84%
Gilead Sciences Inc. (GILD) $69.66 -5.81%
Electronic Arts Inc. (EA) $89.64 -4.94%
NetEase Inc. Ads (NTES) $307.90 -4.92%
Amgen Inc. (AMGN) $193.14 -4.55%
Regeneron Pharmaceuticals Inc. (REGN) $429.78 -4.39%
Netflix Inc. (NFLX) $342.39 -4.18%
Dollar Tree Inc (DLTR) $76.37 -4.13%