Shares of Boeing Co. (BA) experienced a significant jump, increasing by 3.5% in premarket trading. This surge propelled the Dow Jones Industrial Average (DJIA) to higher gains this morning. The spike in Boeing’s stock comes after several notable order announcements from Dubai and an optimistic report from China regarding its 737 Max jets.
Boeing’s stock is on track to open at a two-month high, positioning it for its best trading day in four months since its remarkable 8.7% increase on July 26. If the implied price gain in premarket trading holds, this could potentially contribute about 46 points to the Dow’s price. In contrast, Dow futures experienced a minor slip of 26 points or 0.1% (YM00).
Despite facing a slump of 16.6% over the past three months through Friday, Boeing’s stock managed to close Friday at a commendable 10.6% above the 11-month low closing of $177.73 on October 25. Nevertheless, it has sustained a modest year-to-date gain of 3.2%. In comparison, the Dow has slipped by 2.8% over the past three months but has attained a respectable year-to-date increase of 3.4%.
Overall, Boeing Co.’s extraordinary performance today reflects the positive impact of recent order announcements and upbeat reports surrounding its 737 Max jets. As the aerospace and defense giant continues to navigate these developments, investors are keenly observing the stock’s trajectory and anticipating its potential growth in the near future.