Solid gains on Wall Street ... Parliament rejects all 4 Brexit options ... Lyft shares slump
NEW YORK (AP) — Financial and technology companies helped power U.S. stocks solidly higher today as investors drew encouragement from data pointing to a brighter outlook on the global economy. In another hopeful sign, long-term bond yields rose above their recent lows, following a sharp drop last month that had spooked investors. The S&P 500 index rose 32 points, or 1.2%, to 2,867. The Dow rose 329 points to 26,258. The Nasdaq rose 99 points to 7,828.
LONDON (AP) — British lawmakers have failed to find a majority for any proposal in votes on alternatives to the government’s rejected Brexit deal. Lawmakers rejected four options in votes in the House of Commons, including remaining in a customs union with the EU — which failed by just three votes — and holding a new referendum on Britain’s membership in the bloc. Britain is due to leave the EU on April 12 without an agreement unless it passes a divorce deal or secures an extension from the bloc.
NEW YORK (AP) — Lyft’s shares slumped almost 12 percent in their first full day of trading following the ride-hailing company’s initial public offering of stock. The shares closed down $9.28 at $69.01. That’s below the San Francisco-based company’s IPO price of $72. The ride-hailing company has consistently lost money, raising doubts about its overall valuation.
UNDATED (AP) — The Federal Aviation Administration expects to receive Boeing’s final software improvements for 737 Max airliners “in the coming weeks.” Boeing was expected to complete the work last week, but FAA says the company needs more time to make sure it has identified and addressed all issues. Boeing is making changes in an automated system that is designed to prevent the plane’s nose from rising, which can lead to a dangerous aerodynamic stall. The planes have been grounded around the world since mid-March, following Max crashes in Indonesia and Ethiopia killed 346 people.
UNDATED (AP) — A federal judge has ordered a government agency to take a closer look at pipeline company Enbridge’s plans for dealing with a potential oil spill in the waterway connecting Lakes Huron and Michigan. Environmentalists sued, claiming the plans left too many questions unanswered. The line carries oil from Superior, Wisconsin, to Sarnia, Ontario.