Stocks are headed for their 3rd straight day of gains as Boeing tried to regain some of the sharp losses from this week while investors digested the release of solid economic data.
Stocks rose on Wednesday as Boeing tried to regain some of the sharp losses from this week while investors digested the release of solid economic data.
Boeing shares rose 1 percent in the premarket, following an 11.15 percent drop in the previous two sessions. The aerospace giant's stock has been under pressure this week since amid worries over the safety of the 737 MAX airplane, one of its most popular models. "We believe investors were pricing in very limited risk to the 737 ramp-up profile, which now has greater risk within the wide range of possible outcomes following these incidents," Goldman Sachs analyst Noah Poponak said in a note.
Equities got a boost Wednesday after the Commerce Department said nondefense durable goods orders posted their largest increase in six months in January, rising 0.8 percent. Overall durable goods orders also rose 0.4 percent while economists polled by Refinitiv expected a decline of 0.5 percent. The data overshadowed a weaker-than-expected print on the producer price index.
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