Boeing's Record Stock Rally Adds 120 Points To Dow

By Mark DeCambreMarketsMarketWatch Pulse

Boeing Co.'s surging stock on Wednesday is the main driver behind the Dow Jones Industrial Average's opening jump. Boeing shares , were trading up nearly $17, or 8%, in recent action and were contributing 120 points to the price-weighted Dow , helping the blue-chip gauge register a 112 point, or 0.6%, rally at 21,728. The dollar-gain for Boeing puts it on pace to notch an all-time high and mark its best daily point rise on record, going back to 1972, according to FactSet data. The sharp share rally was powered by Boeing lifting its forecast for 2016 early Wednesday as it posted second-quarter results that were better than analysts' estimates. Boeing has been the single-best performer among the Dow's 30 components so far this year, up a whopping 47%, compared with a year-to-date climb for Apple Inc. of 33%. Early Wednesday, all three equity benchmarks were trading in record territory, with the S&P 500 index up 0.1% at 2,479 and the Nasdaq Composite Index climbing 0.3% at 6,430.

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