Stock Market Today: Dow edges up as stocks look to extend Fed rate-cut rally
Shares of Boeing’s stock bounced off a near 2-year low to be up 3% in recent trading, after a report that the aerospace giant raised its offer to the striking machinists union.
The stock was down as much as 1.1% at its intraday low of $151.65, which was the lowest price seen since Nov. 3, 2022, before turning higher.
The Seattle Times reported that Boeing is now offering wage increases of 30% over four years to its machinists, up from a previous offer of 25% increases. In addition, the annual bonus, which was taken away in the previous offer, was restored, the report said.
The stock’s price gain of $4.58 is adding about 30 points to the price of the Dow, which is up 65 points.