April 16, 2020 / 8:30 PM / 4 months ago

US STOCKS-Wall Street rises as Amazon and Netflix hit record highs

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* 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

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