Meteoric Dow Rockets Toward 26,000 after 200 Point Rally
The Dow is soaring toward 26,000 on Friday afternoon. | Source: AP Photo / Richard Drew
After a tepid morning session, the Dow joined the broader U.S. stock market in positive territory Friday after Boeing Co (BA) snapped back to health on reports that the aerospace contractor was rolling out software fixes on its grounded 737 MAX series.
Dow Makes Sharp Recovery Following Early Losses
The Dow Jones Industrial Average surged more than 200 points in afternoon trading, mirroring a solid pre-market session for U.S. stock futures. The blue-chip index came within 73 points of 26,000 before giving back some of its gains. It was last up 178 points, or 0.7%, at 25,888.08.
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Shares of Boeing Co (BA) snapped back to health and were on track for their biggest gain in over a month after it was reported that the airline manufacturer was planning to implement new security upgrades on its fleet of MAX 737s. Boeing is currently leading the Dow 30 index with gains of 2.5%.
The broad S&P 500 Index gained 0.7% to 2,826.65, where it traded at five-month highs. Nine of 11 primary sectors had reported gains, with information technology surging 1.6%.