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US STOCKS-Wall Street rises as Amazon and Netflix hit record highs

Published 16/04/2020, 21:25
© Reuters.
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(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window)
* U.S. weekly jobless claims fall slightly
* Amazon, Netflix hit record high
* Morgan Stanley drops after profit falls
* Dow up 0.1%, S&P 500 up 0.6%, Nasdaq up 1.7%

(Updates to close)
By Caroline Valetkevitch
April 16 (Reuters) - U.S. stocks rose on Thursday as
Amazon.com Inc AMZN.O and Netflix Inc NFLX.O surged to
record highs, although trading was choppy as investors worried
about the impact of the coronavirus pandemic on first-quarter
earnings.
Amazon.com and Netflix rose as sweeping stay-at-home orders
drove demand for online streaming services and home delivery of
goods.
Boeing Co BA.N fell 8%, limiting gains in the Dow, as its
European rival Airbus AIR.PA said it was examining requests to
defer deliveries after a collapse in travel demand. Meanwhile, the shutdown in New York was extended until May
15 even as coronavirus-related hospitalizations and deaths fell
to their lowest in more than a week, adding to evidence that the
hardest-hit state was controlling its spread. "We're not going to see a V-shaped recovery, and I think
investors will eventually realize that, so it's premature to
call a bottom in stocks at this stage," said Alan Lancz,
president of Alan B. Lancz & Associates Inc., an investment
advisory firm based in Toledo, Ohio.
The Dow Jones Industrial Average .DJI rose 33.33 points,
or 0.14%, to 23,537.68, the S&P 500 .SPX gained 16.19 points,
or 0.58%, to 2,799.55 and the Nasdaq Composite .IXIC added
139.19 points, or 1.66%, to 8,532.36.

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