US equity markets settled higher despite a stumble into the close of the session amid reports that several senators may be putting forward some last minute opposition that threatens to slow the passage of a bill proposing a US$2 trillion fiscal stimulus package agreed between White House lawmakers - Dow up +495-points or +2.39%, with Boeing Co (up +24%) the leading index constituent and taking the aerospace giant’s gains to almost 70% Vin the past three sessions. Nike Inc (+9.2%) was also among the leading performers in the wake of their strong result after the closing bell of Tuesday’s (24 March). At its session high the Dow was up more than >6%. Nonetheless the index built on its biggest one day percentage gain since 1933 (+11.37%) and biggest one-day points increase (+2,113) ever recorded a day earlier, The broader S&P500 gained +1.15%, having traded over >5% higher earlier in the session and building on the previous session’s 9.38% advance (and best one day gain since October 2008). Industrials (up +5.29%), Real Estate (+4.50%) and Energy (+4.49%) lead eight of the eleven primary sectors higher. Communication Services (down -1.58%) was the worst performing sector. Home improvement retailer Lowe's Companies (+8.31%) said it will hire 30,000 new workers and committed $100 million "to support the emerging needs" of employees, customers and communities amid the coronavirus pandemic. Both the Dow and S&P 500 logged their first back-to-back gains in seven weeks. Indeed, the Dow has logged its best two gain (2,608-points or +13.67%) since 1987. The technology-centric NASDAQ eased -0.47%, with all of the FAANG complex (Facebook Inc down -3.0%, Amazon.com Inc -2.80%, Apple Inc -0.55%, Netflix Inc -4.18% and Google parent Alphabet Inc -2.82%) closing in the red.
