© Reuters.
By Yasin Ebrahim
Investing.com – The Dow rose above important levels on Thursday, led by Boeing rising on signs of a return in demand for the beleaguered Max jets, while continued optimism about much-needed stimulus continued to fuel investor sentiment.
The increase rose 0.63%, or 188 points, and rose above the 30,000 level during the day. The rose by 0.30%, while the rose by 0.53%.
The Dow component Boeing (NYSE 🙂 rose 7% after Ryanair ordered 75 additional 737 MAX aircraft and increased its backlog to 210 jets.
The Federal Aviation Authority failed to ground the Boinging 737 Max, which was involved in two fatal crashes.
The redemption path for Boeing 737 Max continues as other airlines have promised to fly the jets again.
American Airlines Group (NASDAQ 🙂 said it will be flying the Max Jets by the end of the year. Southwest Airlines (NYSE 🙂 will fly the aircraft in the second quarter.
Sentiment in stocks has also been affected by recent developments in incentives. House spokeswoman Nancy Pelosi and Senate majority leader Mitch McConnell discussed an agreement on Thursday to support coronavirus and measures to avoid a government shutdown.
Energy saw runaway gains triggered by soaring oil prices after the major company cut production cuts by 500,000 barrels a day to 7.2 million barrels a day. It was less than the expected taper of 1.9 million barrels.
In technology, Snowflake (NYSE 🙂 rose 14% after third-quarter results sparked a series of upgrades from Wall Street analysts.
"The company continues to seize the longer-term opportunity without the COVID affecting it. We are impressed that customers are using the broader data cloud platform …" Credit Suisse (SIX 🙂 said in a note after the price target for the stock was raised from $ 250 to $ 265.
In economic terms, unemployment claims fell for the first time in two weeks. But Jefferies (NYSE 🙂 said the week's decline was "encouraging but also hard to trust".
In the week ending November 28, 712,000 people applied for unemployment insurance, down 75,000 from the previous week's revised upward of 787,000 and below the expected 775,000 claims.
In other news, Tesla (NASDAQ 🙂 rose 4% after Goldman Sachs (NYSE 🙂 raised its price target for Tesla from $ 355 to $ 780 on signs of faster adoption of electric vehicles.
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