Boeing Stock Rises as Investors Flock to Industrial Giants

Boeing shares gained nearly 2% in premarket trading on Monday as investors rotated into large-cap industrial stocks.

The aerospace company's stock price rose to $219.95, with its 20-day simple moving average at $217.07 and roughly 0.5% to 0.9% above its other major moving averages clustered near the $218-$219 range.

Boeing also made headlines on Monday after marking its first 737 MAX delivery to Tajikistan's national carrier, Somon Air, which plans to use the aircraft on short- and medium-haul routes across Central Asia, Europe, the Middle East, and Asia as part of its fleet modernization and network expansion plans.

The delivery follows Boeing's commitment announced last year to purchase up to 14 Boeing 787 Dreamliner and 737 MAX aircraft. The company's total backlog increased to a record $715 billion, including more than 6,200 commercial airplanes.