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Wall Street stock indexes surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors look past bleak economic data.

Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.

Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will "weigh heavily" on the near-term outlook and poses "considerable risks" for the medium term.

The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only "weigh heavily" on the near-term outlook but poses "considerable risks" for the medium term as well.

Everything is bigger in Texas — even the tax refunds. Filers residing in Midland, Texas, received an average refund of $3,800 in the 2018 tax year, according to MagnifyMoney's analysis of IRS data.

U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted the so-called market-leading FAANG stocks.

Top Boeing Co shareholder Vanguard Group voted against the company's chairman Lawrence Kellner, citing "control failures" under its audit committee after two 737 MAX plane crashes, according to a stewardship report issued on Wednesday that will further pressure the planemaker.

BP is donating 3 million gallons of jet fuel to FedEx and Alaska Airlines [ALKAIR.UL] to help with the distribution of personal protective equipment in the battle against the new coronavirus.

Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after certain countries started to ease restrictions.

U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.

Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.

Lyft Inc plans to lay off 982 employees, or 17% of the ride-hailing firm's workforce, due to economic challenges caused by the coronavirus pandemic, the company said in a regulatory filing on Wednesday.

Shares of Blue Apron Holdings Inc slumped as much as 33% on Wednesday as the meal-kit company posted a steep decline in quarterly sales even after seeing a boost in orders from Americans confined to their homes amid coronavirus-led lockdowns.

Face masks, temperature checks and packaged sandwiches could all become part of the daily routine for bankers as their employers work out how to get them safely back into the office.

Several of Amazon.com Inc's foreign websites have been added to the U.S. trade regulator's "Notorious Markets" report on marketplaces known for counterfeiting and piracy concerns.