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US stocks rose on Wednesday, putting the S & P 500 and Nasdaq on track for a third straight day of gains, as investors weighed contradictory data on the US economy with concerns over the UK's exit from the US. Kingdom of the European Union.
Boeing Co.'s actions remained in the spotlight following a series of strandings of its 737 Max 8 fleet by US-based regulators.
How do the main indexes behave?
The Dow Jones Industrial Average
DJIA, + 0.40%
increased by 170 points, or 0.7%, to 25,725, while the S & P 500 index
SPX, + 0.89%
added 23 points, or 0.9%, to 2,815. The Nasdaq Composite Index
COMP + 0.98%
rose 67 points, or 0.9%, to 7,658.
What is the engine of the market?
US investors continue to analyze data on the US economy, with a surprisingly strong report on durable goods orders, following previous reports of a sharp slowdown in business investment.
The Commerce Department's report also showed that core capital orders, a key measure of business investment, rose 0.8% in January after dropping sharply in the previous two months.
The cost of wholesale products rose 0.1% in February, less than the 0.2% increase expected by economists, according to a MarketWatch survey. The 12-month increase in producer prices rose from 2.5% to 2.3%, well below last year's record growth rate of 3%.
Construction spending in the United States rose 1.3% in January, the largest increase since April, following a 0.8% decline in December, the Commerce Department said.
UK MPs rejected Prime Minister Theresa May's revised Brexit agreement on Tuesday with a vote of 242 to 391. They are now considering a second vote on the possibility of removing from the table an unconditional exit with the European trade bloc before the deadline of March 29th. A scenario called "hard Brexit" has fueled the volatility of the British currency and could destabilize the financial markets, according to experts.
What do the strategists say?
"The rebound in underlying equipment orders in January is still consistent with the slowdown in business equipment investment growth in the first quarter, although this indicates that the slowdown will not be as strong. marked by some survey data, "writes Michael Pearce. senior US economist at Capital Economics in a note.
"With February's producer price numbers showing little sign of an ongoing pickup in inflation, there is still a good chance the Fed will remain patient," he added.
David Madden, market analyst at CMC Markets UK, said the investment climate was "gloomy this morning, while the Brexit still hangs over the markets. The withdrawal agreement of Theresa May was rejected yesterday, which was not a big surprise. "
What stocks are under discussion?
Boeing
BA, -2.77%
equities edged up 0.1%, trying to break a series of losses over seven days. Two collisions involving its 737 Max 8 jet planes have weighed on the stocks of manufacturers in the aviation and defense sectors and the Dow, where they are an essential element.
Actions of Rite Aid Corp.
RAD + 3.54%
increased by 5.1% after the general manager of the pharmacy chain, John Standley, announced his resignation.
Actions of Express Inc.
EXPR, -10.71%
fell 5.3% after the fashion clothing retailer outperformed the fourth-quarter earnings forecast but missed net sales and presented worse-than-expected pessimistic prospects.
Take-Two interactive software
TTWO, + 5.23%
stock climbed 4.7% on rumors Sony Corp.
SNE + 0.82%
"Is in advanced talks at the board level to acquire Take-Two Interactive in the context of a transaction mostly in cash", which would value the company at $ 130, according to Joel Kulina, head of technology and media at Wedbush Securities.
How are other markets traded?
Asian markets closed down, Nikkei 225 from Japan
NIK -0.99%
1% loss, Hong Kong's Hang Seng Index
HSI, -0.39%
losing 0.4% and Shanghai Composite Index in China
SHCOMP, -1.09%
falling by 1.1%.
European stocks were higher, with the Stoxx Europe 600
SXXP, + 0.63%
up 0.6%.
The price of oil
CLJ9, + 2.64%
continued to increase, while the gold
GCJ9, + 0.89%
also gained ground. The US dollar
DXY, -0.28%
during this time, slightly lower.
-Marque DeCambre contributed to this report
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