Stocks rose higher across the board as tech shares outperformed while investors digested the release of solid economic data. Facebook, Amazon, Netflix, Alphabet and Apple all traded higher. Stocks also got a boost after the Commerce Department said nondefense goods orders posted their largest increase in six months in January, rising .8%. Meanwhile, US construction spending posted its biggest increase in nine months, rising 1.3% in January. At the end of the day, the major indices closed in the green and solidly higher:
DOW +148 at 25702
SP500 +19 at 2810
NASDAQ +52 at 7643
The 10 Year Treasury closed slightly higher to yield 2.61%
Oil prices closed +1.54 at 58.74 a barrel
Gold prices closed +13.40 at 1311.50 an ounce
In the days’ stock news:
- Boeing shares closed higher for the day though traded more than 11 points lower midday. The US and Canada announced they would ban flights from the company’s 737 MAX jets, joining several other countries like China, the European Union and Indonesia. BA closed +1.73 at 377.14.
- Aurora Cannabis has appointed Trian’s Nelson Peltz as a strategic advisor, to help explore potential partnerships that would advance Aurora’s market strategy. ACB closed up nearly 14% at 9.07.