Boeing's surging stock accounts for about 115 points of Dow's nearly 800-point rally
Shares of Boeing Friday afternoon were contributing a chunk of the outsize gains being produced by the Dow Jones Industrial Average . Boeing's stock was gaining about $16, or 5.1%, at $326.92, with that advance delivering a roughly 115-point boost the price-weighted blue-chip index. A $1 move in any of the Dow's components equates to a swing of 6.8-points. All 30 of the Dow's constituents were trading sharply higher Friday, but by dint of its price, Boeing's shares are the most influential of the components. The session's gains came amid a broad-market rally driven by a trio of factors: signs of progress in trade talks between the U.S. and China, a healthy jobs report that showed 312,000 jobs created in December and comments from Federal Reserve Chairman Jerome Powell, during an panel discussion with his predecessors, that was being read as more attuned to the market's concerns about evidence of flagging global growth and the pace of interest-rate normalization. The Dow was up 767 points, or 3.4%, at 23,459, the S&P 500 index advanced 3.5% at 2,532, while the Nasdaq Composite Index climbed 4.2%. The day's gains put stocks on track to book their best one-day rally since a remarkable 1,000+ surge by the Dow the day after the Christmas holiday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.