Dow Jones Jumps 200 Points as Boeing Stock Surges, Big Tech Lags Behind
The Dow Jones Industrial Average (DJINDICES: ^DJI) kicked off the new week with another strong gain. The Dow was up 0.9% at noon EDT Monday as investors continued to be optimistic about the post-lockdown economic recovery. New York City, hard hit by the novel coronavirus, began reopening on Monday after close to three months under a stay-at-home order.
After a strong week, Boeing (NYSE: BA) stock continued to lead the way on Monday thanks to positive analyst commentary. While Boeing was up big, the biggest tech stocks found in the Dow -- Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Intel (NASDAQ: INTC) -- failed to keep up.
Shares of airplane manufacturer Boeing shot up about 40% last week, driven in part by optimism about the economy recovering. While demand for air travel remains deeply depressed, a quicker-than-expected recovery could be in the cards. Last Thursday, American Airlines said that rising demand had led it to increase domestic flights scheduled for the summer.
Source Fool.com
