Boeing Surges on Several Positive Signals

Major U.S. equities indexes moved higher as the Federal Reserve’s policy committee concluded its second meeting of 2025.

In a widely expected move, policymakers maintained benchmark interest rates at current levels. Although the Fed’s freshly released “dot plot” showed that officials still anticipate two interest-rate cuts this year, updated projections from the central bank included forecasts for higher inflation and slower economic growth compared with previous predictions.

The S&P 500 advanced 1.1% in the midweek trading session. The Dow closed 0.9% higher following the Fed’s announcement, while the Nasdaq was up 1.4%.

Shares of aerospace giant Boeing (BA) soared 6.8%, logging the S&P 500’s top performance on Wednesday. The move higher followed several positive signals for the plane manufacturer, including an announcement that Japan Airlines has placed an order for 17 of Boeing’s 737-8 aircraft. In addition, Boeing’s chief financial officer Brian West downplayed the potential impact of U.S. tariffs on the company, while analysts at Bank of America said they expect Boeing to achieve a month-over-month uptick in plane deliveries in March.

Super Micro Computer (SMCI) unveiled new systems that incorporate the Blackwell Ultra platform, the latest generation of artificial intelligence (AI) chips from Nvidia (NVDA). The updated products are designed to handle complex AI tasks such as training models, graphics, and visualization. Supermicro stock gained 5.8% on Wednesday, clawing back a portion of the steep losses posted in the previous session.

Caesars Entertainment (CZR) shares jumped 5.7% after the resort and casino operator announced that two additional independent members would join its board of directors. Executives from Icahn Enterprises (IEP) will occupy both new board seats. Founder and controlling shareholder of the investment firm Carl Icahn previously indicated that he would not engage in activism related to operations at Caesars, but following the board deal, the major investor discussed the possibility of exploring strategic options for the gaming company’s digital business.

Intel (INTC) shares failed to build on their five-day winning streak, declining the most of any S&P 500 stock on Wednesday with a drop of 6.9%. Recent enthusiasm for the stock has revolved around the chipmaker naming semiconductor industry veteran Lip-Bu Tan as its new CEO. The incoming top executive, who officially took the helm of Intel this week, has reportedly discussed significant restructuring moves including middle-management staff cuts, changes to manufacturing processes, and shifts in AI strategy.

Progressive (PGR) stock slipped 3.5% after the insurer released its results from February 2025. Although the company achieved strong year-over-year gains in premiums and net income, Progressive reported a total pretax net realized loss on securities of $110 million, down sharply from a gain of $80 million in February 2024.

Shares of biopharmaceutical company Gilead Sciences (GILD) fell 2.5% following reports that the Department of Health and Human Services is considering sharp reductions in federal funding for HIV prevention. HIV treatments, including pre-exposure prophylaxis drugs prescribed as a preventive measure for people at risk of contracting the virus, accounted for more than half of Gilead’s revenue last year.