The major indexes are still enjoying gains of 9 percent or more for the year so far. Airlines in China and Indonesia, Aeromexico, Brazil's Gol Airlines, India's Jet Airways and others have done the same.
Investors are also watching out for developments on the Brexit front. Additionally, sales in January increased 2.3 percent from a year ago.
"The markets are reflecting a more favorable interpretation of the shift in central bank policies", he said.More news: Why Ben Affleck Loves His Massive Phoenix Tattoo
Traders bid up shares in Stitch Fix after the personal styling service blew past analyst's expectations for the fourth-quarter. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, the US Labor Department said on Tuesday.
The 2-yr yield declined three basis points to 2.44%, and the 10-yr yield declined four basis points to 2.61%. Both stocks soared on the news, lifting the NASDAQ Composite, with Nvidia rising more than 6.97 percent while Mellanox jumped 7.78 percent.
"The most recent economic data fits with our 2019 outlook that suggests economic growth is likely to slow this year, but recession prospects remain very low", he intones that "This reinforces the view that the Federal Reserve will continue with patience with regards to any future rate hikes until such time that underlying economic fundamentals show significant improvement."More news: Whoopi Goldberg Returns to 'The View' After Pneumonia
The dollar fell more steeply shortly after data revealed that the USA consumer-price index climbed 0.2% in February, matching market expectations, while the cost of living over the past year slowed again to 1.5% from 1.6%. London's FTSE 100 was also flat, at 7,156, while the pound dropped a sharp 1 percent on expectations that the latest version of Britain's Brexit deal with the European Union will be voted down by lawmakers on Tuesday. Futures contracts on the Dow Jones Industrial Average Index - where Boeing has the largest weighting - slid as much as 0.7 per cent yesterday after Flight ET302 plunged to the ground minutes after leaving Addis Ababa en route to Nairobi, Kenya, killing all 157 people on board.
CURRENCY: The dollar gained to 111.26 yen from Monday's 111.21 yen. The euro rose to $1.1297 from $1.1240.
Intel rose 1.5 per cent Wednesday and UnitedHealth Group climbed 2.6 per cent.More news: AOC accuses Wells Fargo CEO of financing 'caging' of children at border
Trader Dudley Devine works on the floor of the New York Stock Exchange, Tuesday, March 12, 2019. The Nasdaq rose 32 points, or 0.4 percent, to 7,591. Brent crude, used to price global oils, added 70 cents to $67.28 per barrel in London.