A broad cross-section of stocks charged sharply higher on Wednesday, as Wall Street focused on Treasury yields and foreign government moves to settle unrest in the financial markets. Shares of e-commerce kingpin Shopify (NYSE: SHOP) rose as much as 5.5%, digital payments denizen PayPal (NASDAQ: PYPL) jumped as much as 6.9%, and Latin American e-commerce and fintech leader MercadoLibre (NASDAQ: MELI) surged as much as 8.3%. Positive developments in the unfolding saga involving the British pound and a spike in U.S. Treasury yields provided the catalyst. Read More...
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Why Boeing Stock Popped Today
Shares of commercial airplane-builder Boeing (NYSE: BA) look ready to take off, says investment bank Morgan Stanley in a note out this morning, and could even rise as much as 80% in price over the next 12 months. Investors seem at least partially swayed by the argument, and Boeing stock is up the first 2% out of those 80% as of 11:05 a.m. ET Wednesday. Last week, Boeing stock got hit on a bit of bad news, which included reports that China’s Xiamen Airlines has elected to buy A320neo aircraft from Airbus rather than 737 MAXes from Boeing.
