Boeing Bounces Back to Help Dow on 737 Recertification Hopes

By Kim Khan

Investing.com- The Jones ended the session in the red Friday, although off its lows, and it was helped in a big way by Boeing (NYSE:).

Shares of Boeing (NYSE:) rose $5.26, or 1.7%, to $323.05.

The rise of more than $5 is significant as, unlike other indices, the calculated on the dollar amount of its components’ moves.

The rise in Boeing (NYSE:) helped the blue-chip index by a little more than 35.7 points. The ended the day down a little more than 170 points, or about 0.6%.

The fate of Boeing’s shares has been dictated by the timeline on when its 737 Max jet will receive regulatory approval to fly again after two fatal crashes last year.

The problem has seen off the CEO of Boeing (NYSE:) and brought out embarrassing headlines of how the company handled the design and manufacturing process of the plane.

Today shares bounced as the FAA said it could clear the 737 Max to fly again before mid-year, a timeline recently given by Boeing (NYSE:) that send shares down.

FAA administrator Steve Dickson said if there are no new problems the plane could be flying again before the outside date of mid-year, CNBC reported, citing a person familiar with the matter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.