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 U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
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 The global case tally for the coronavirus that causes COVID-19 climbed to 5.65 million on Wednesday, according to data aggregated by Johns Hopkins University. The death toll rose to 353,414. More than 2.3 million people have recovered. The World Health Organization warned of a steep surge of infections in Latin America as Brazil's case count continued to climb. The U.S. has the highest case toll in the world at 1.68 million and the highest death toll at 100,047. Brazil has 391,222 cases and 24,512 deaths, while Russia has 370,680 cases and 3,968 fatalities. The U.K. has 266,599 cases and 37,130 deaths, the highest death toll in Europe and second highest in the world after the U.S. Spain has 236,259 cases and 27,117 deaths, while Italy has 230,555 cases and 32,955 deaths. France has 182,847 cases and 28,533 deaths, while Germany has 181,293 cases and 8,386 deaths. Turkey has 158,762 cases and 4,397 deaths and India has 151,876 cases and 4,346 deaths. Iran has 139,511 cases and 7,508 deaths. Peru has 129,751 cases and 3,788 deaths. Canada is next with 88,093 cases and 6,753 deaths. China, where the disease was first reported late last year, has 84,103 cases and 4,638 deaths.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Oppenheimer Asset Management's John Stoltzfus believes the market is in the early phase of a historic recovery.
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Shares of Boeing Co. jumped more than 5% in the extended session Wednesday after the jet maker announced the layoffs of 6,770 U.S. workers, with the first employees affected being notified this week. International locations also are planning layoffs that will be announced on their own timelines, Boeing said. "The COVID-19 pandemic's devastating impact on the airline industry means a deep cut in the number of commercial jets and services our customers will need over the next few years, which in turn means fewer jobs on our lines and in our offices," Boeing said. Boeing said it is seeing "green shoots" after the devastation wrought by the virtual halt on air travel, but the industry will take "some years to return to what it was just two months ago." Some of its airline customers report that "reservations are outpacing cancellations on their flights for the first time since the pandemic started," Boeing said. Some of its businesses, such as defense, will continue hiring, the company said. In a separate press release, the company announced it was resuming production of its 737 Max aircraft in Renton, Wash. The program restarted at a low rate as the company implements safety and product quality checks, it said. Boeing halted the 737 Max production in January. Production "will gradually ramp up" this year, the company said. The 737 Max has been grounded worldwide following two deadly crashes less than five months apart that were linked to a faulty anti-stall system. Shares of Boeing ended the regular trading day up 3.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
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RELATED ARTICLES | | |
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China used to be the world's aluminum exporter, but all of a sudden, it's importing.
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 Berkshire Hathaway's (NYSE: BRK.A) (NYSE:BRK.B) owner Warren Buffett is the most popular investor who built his $89.9 billion net worth by investing in value companies. He was among the few who profited from the 2008 crisis. In the current Covid-19 crisis, he is holding a lot of cash as most companies are not prepared for […]
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