Boeing Soars as Dow Hits New High Amid Tech Rebound and AI Spending Boom

Boeing's stock price surged after the FAA approved the 737 MAX 7, allowing deliveries to begin and shifting focus towards the MAX 10 pipeline. The company closed at $233.49, up 8.03%, with trading ranging from $219.21 to $234.09. In related news, the Dow Jones Industrial Average set a new closing high on Monday, rising by 693.38 points (1.3%) to 53,178.41.

The tech sector continued its rebound, with Meta, Microsoft, Alphabet, and Amazon leading gains following U.S.-Iran calm. The Nasdaq Composite and S&P 500 also rose.

Microsoft, Alphabet, and Amazon announced significant enterprise contracts for AI cloud spending, totaling $1.688 trillion. This comes after concerns about reckless AI infrastructure spending were raised earlier in the week.