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

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)