(For a live blog on the U.S. stock market, click 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 and Netflix Inc 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 fell 8%, limiting gains in the Dow, as its European rival Airbus 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 rose 33.33 points, or 0.14%, to 23,537.68, the S&P 500 gained 16.19 points, or 0.58%, to 2,799.55 and the Nasdaq Composite added 139.19 points, or 1.66%, to 8,532.36.
Additional reporting by Medha Singh and Akanksha Rana in
Bengaluru; Editing by Sagarika Jaisinghani, Shounak Dasgupta,
Dan Grebler and Will Dunham