Shares of Boeing Co. were surging early Tuesday, helping to power the Dow Jones Industrial Average to a triple-digit climb in morning trade. Boeing Co. was up more than 3% or $7.98 at $289, translating to a roughly 60-point rise for the Dow industrials , which was up 103 points, or 0.4%, at 24,485 in recent trade. A $1 dollar move in any one of the Dow’s 30 components equates to a 6.83-point swing in the price-weighted benchmark. Boeing’s move came as J.P. Morgan Chase raised its price target for the plane maker to $325 from $300 on Tuesday. Shares of Boeing have been the best performer among the Dow components, boasting a 86% year-to-date advance. Meanwhile, the S&P 500 index and the Nasdaq Composite Index were trading at break-even levels.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News