Boeing Shares Rise on Industrial Sector Gains as Akasa Air Weighs Large Jet Order

Boeing shares rose nearly 1% on Friday as industrial stocks outperformed the broader market, according to Benzinga Pro data. The S&P 500 gained a mere 0.08%, while the Nasdaq remained little changed.

The industrial sector saw gains of 0.37%, making it the second-best-performing sector of the day. However, market breadth was weak, with only two of 11 sectors trading higher.

Akasa Air, an Indian carrier, is in talks to order over 200 Boeing 737 Max jets, Bloomberg reported. This proposed deal would be worth billions and further strengthen Boeing's position in India's growing aviation market.

From a technical standpoint, Boeing remains under pressure, trading below several key moving averages. The stock's momentum is weak, with the MACD indicator below its signal line, suggesting that the recent rebound lacks stronger momentum.