Why Boeing Stock Popped 6% (Again) Today
Boeing (NYSE: BA) stock shot up as much as 6% yesterday on sorta-kinda good news about the novel coronavirus possibly getting under control. Boeing stock was surging again today -- up another 5.9% as of 12:10 p.m. EDT -- and apparently, for pretty much the same reason.
As Federal Reserve chairman Jerome Powell explained in a statement today, the U.S. is "taking forceful measures to control the spread of the virus." On the one hand, these measures, which include "businesses ... shuttered, workers ... staying home, and ... many basic social interactions ... suspended," have come "at significant economic and personal cost," including "very high, although temporary" levels of unemployment.
On the other hand, the government has taken dramatic action to mitigate the damage, including passing legislation to deliver "$2.2 trillion in relief to those who have lost their jobs, to low- and middle-income households, to employers of all sizes, to hospitals and health-care providers, and to state and local governments," and dropping interest rates "to near zero."
Source Fool.com