US stocks add to records, Boeing gains on MAX flight

About 25 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent to 30,516.16. — Reuters pic
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent to 30,516.16. — Reuters pic

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NEW YORK, Dec 29 — Wall Street stocks added to records early today, extending a holiday-season rally, as Boeing surged ahead of the first US commercial flight for the 737 MAX after a lengthy grounding.

All three major indices had finished at records yesterday after President Donald Trump signed a US$900 billion (RM3.6 trillion) economic relief package, and the federal budget, ending the risk of a government shutdown and providing key stimulus and unemployment payments to struggling families and businesses.

“Global markets remain buoyed by the highly-anticipated US fiscal relief bill,” Schwab analysts said in a note.

About 25 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent to 30,516.16.

The broad-based S&P 500 also gained 0.4 per cent to 3,750.39, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 12,940.42.

Boeing jumped 1.8 per cent just ahead of the MAX flight from Miami to New York’s La Guardia airport, departing at 1532 GMT and due to land around 1730 GMT.

The MAX was grounded for 20 months following two fatal crashes. American Airlines rose 1.0 per cent. — AFP

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