U.S. stocks climbed Wednesday after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are. Wall Street also got a boost from easing yields in the bond market. The Dow Jones Industrial Average added 383 points, or 0.9%, and the Nasdaq composite rose 1.4%.
Boeing shares jumped Wednesday after Japan Airlines announced that it has ordered 17 new 737-8 aircraft from the plane maker.
Shares of financial services company Robinhood (NASDAQ:HOOD) jumped 5.7% in the morning session after Compass Point initiated coverage of the stock and assigned a Buy rating with a $61 price target. The target price implied a potential 45% upside from where shares traded before the coverage was initiated. The firm added "We initiate coverage on HOOD with a Buy rating and $61 PT. We see Robinhood increasing ARPUs for its 12m crypto users alongside an improving U.S. regulatory environment."
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 4.2% in the pre-market session after Cantor Fitzgerald analysts upgraded the stock from Neutral to Buy. The analysts added, "With Tesla's shares now down ~45% YTD, we upgrade Tesla to Overweight (from Neutral) ahead of upcoming material catalysts; Our $425 12-month PT is unchanged."
Shares of aerospace and defense company Boeing (NYSE:BA) jumped 7% in the morning session after CFO Brian West provided constructive updates about the company's financial position at an investor conference. He added that the business was "broadly tracking to expectations" with the March 2025 delivery of 787 jets similar to the previous month. These updates suggested that the company's operations may be stabilizing.
Shares of kitchenware and home goods retailer Williams-Sonoma (NYSE:WSM) fell 12.1% in the morning session after the company reported weak fourth-quarter 2024 results as it initiated full-year 2025 guidance which was less exciting. Guidance called for flat sales growth year-on-year and operating margins fell below expectations.
The original cryptocurrency is down 30% from January highs because of Trump’s tariffs and inflation fears.
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US stocks rose slightly as investors braced themselves for the release of the Federal Reserve's next policy decision amid a volatile trading week.
US stocks rose slightly as investors braced themselves for the release of the Federal Reserve's next policy decision amid a volatile trading week.
