A 12% spike in shares of Boeing plus — stop me if you’ve heard this one — hopes for a quick economic recovery following the easing of coronavirus lockdowns sent Wall Street higher Wednesday, plus more in today’s Closing Bell on Money & Markets.

Boeing Bumps Dow Jones Industrials 

Shares of Boeing spiked as much as 12.7%, helping lead a solid charge upward for the Dow Jones Industrial Average, which was up 1.8% by about 3:15 p.m. The spike for Boeing Co. (NYSE: BA) came after billionaire investor Daniel Loeb’s Third Point revealed a stake in the struggling plane-maker.

The Nasdaq also got a shot in the arm today from Microchip Technology Inc. (Nasdaq: MCHP), which jumped more than 12% after raising its current-quarter sales and profits forecast. The tech-heavy Nasdaq is now a mere 1.4% off its previous record high, set on Feb. 19 right before the market crashed due to the coronavirus pandemic and subsequent lockdowns.

The S&P 500 also had a good day Wednesday and is now just 8% below its record high, also set back on Feb. 19, after the unprecedented stimulus and the lifting of lockdowns across the U.S.

The broader stock market also appears to be looking past simmering tensions between the U.S. and China and continuing protests across the United States following the death of George Floyd at the hands of Minnesota police. All four officers that were involved are now facing criminal charges, including new aiding and abetting murder for the three officers who had not been charged yet.

Officer Derek Chauvin now faces second-degree murder charges, upgraded from the initial third-degree murder charge.

Stock Market Update: Closing Bell*

S&P 500: 3,122 (+1.36%)
DOW: 26,269 (+2.05%)
NASDAQ: 9,682 (+0.78%)
RUSSELL 2000: 1,456 (+2.68)
VIX: 25.63 (-4.51)
GOLD: $1,700 (-1.9319%)
BITCOIN: $9,575.55 (+1.02%)
U.S. 10-YEAR YIELD: 0.757% (+0.077)

*- as of 4:10 p.m.

A Big Win

In this morning’s Opening Bell, we told you to watch Microchip Technology Inc. (Nasdaq: MCHP) after the company revised its current-quarter guidance higher. Its original earnings guidance was between $1.25 and $1.45 a share. It revised it to $1.35 and $1.53 a share. Microchip Technology was trading up 12.9%.

We also mentioned Boeing Co. (NYSE: BA) as the American plane manufacturer reached an agreement with German travel company Tui Group (Over-the-Counter: TUIFY) over compensation for the grounding of Boeing’s 737 Max aircraft. Boeing was up 12.7% in afternoon trading.

Finally, we told you to be on the lookout for Zoom Video Communications Inc. (Nasdaq: ZM) after the video conferencing company blew the doors off Wall Street’s projections for earnings and revenue. Shares of Zoom Video were trading 5.4% higher.

Golden Nuggets

Gold futures fell more than 2% as risk sentiment improved on hopes of a faster recovery to the U.S. economy.

Futures pared back some of the losses with investors overlooking civil unrest in the U.S.

A gauge of global equity markets rose and the euro gained against the dollar on Wednesday as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.

Gold futures dropped 2% to trade at $1,698 an ounce. Silver futures were 1.6% lower to $17.96 an ounce.

Platinum fell 1.3% to $867 an ounce while palladium fell 1% to trade at $1,951.

Cannabis Corner

The Food and Drug Administration has sent draft guidance on a federal plan for marijuana and CBD research to the White House Office of Management and Budget.

An FDA spokesperson told Marijuana Moment the agency is working to develop broader CBD regulations that could lead to the marketing of cannabis products as dietary supplements or food items.

The question now is whether the FDA will wait for the guidance to be finalized before issuing final rules for CBD products in general.

Other News

As millions of employees have been shut out of their offices and required to work from home, some companies are making the transition easier.

According to CNBC, e-commerce company Shopify Inc. (NYSE: SHOP) is giving its new remote employees $1,000 to set up their new home offices. Twitter Inc. (NYSE: TWTR) has followed suit.

Other companies are reimbursing employees for home office furniture and even for their home monthly internet bill.

Today’s Big Winners

(as of 3:15 p.m. EDT)

S&P 500: Simon Property Group Inc. (NYSE: SPG) +16.3%

Nasdaq: Microchip Technology Inc. (Nasdaq: MCHP) +12.9%

Dow: Boeing Co. (NYSE: BA) +12.7%

Today’s Big Losers

(as of 3:15 p.m. EDT)

S&P 500: Campbell Soup Co. (NYSE: CPB) -4.6%

Nasdaq: Activision Blizzard Inc. (Nasdaq: ATVI) -3.8%

Dow: Intel Corp. (Nasdaq: INTC) -0.5%

Check back for the most important news and numbers each day after the Closing Bell, only on Money & Markets.