S&P 500, Dow extend recovery after strong U.S. business surveys

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Reuters

By Medha Singh (Reuters) – The S&P 500 and the Dow rose on Friday, extending a recovery from the previous session, as strong U.S. factory and services activity surveys lifted the mood at the end of a volatile week of trading. Helping the Dow outperform was Boeing, which added about 3% as industry sources said the planemaker has drawn up preliminary plans for a fresh sprint in 737 MAX output to as many as 42 jets a month in fall 2022. IHS Markit’s data showed U.S. business activity picked up in May amid strong domestic demand, but backlogs of uncompleted work are piling up as manufacturers stru…

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