Wall Street advances on Boeing gains, stimulus eyed
Wall Street shares jumped on Monday and the S&P 500 was on track for its largest quarterly gain since 1998. This was mainly from upbeat investors’ mood for a stimulus-driven economic recovery. Moreover, an increase in Boeing shares backed the Dow’s performance.
The Dow Jones Industrial Average.DJI advanced 2.32% as the S&P 500.SPX and the Nasdaq Composite.IXIC recorded 1.47% and 1.2% gains.
Though the S&P 500 advanced by 17% for the second quarter, it still placed low for the month. Stocks struggled from signs of progress in battling the pandemic and from a recent upsurge in cases.
Boeing’s (BA.N) shares advanced more than 14% on Tuesday. This followed after the planemaker launched its 737 MAX on Monday on the first day of certification flight testing with the U.S. Federal Aviation Administration and company test pilots.