Boeing's stock 'relief' rally is helping keep the Dow positive

Shares of Boeing Co.

BA, +4.42%

surged 3.9% in morning trading Friday, enough to keep the Dow Jones Industrial Average

DJIA, +0.32%

in positive territory, in the wake of the aerospace giant’s announcement of a 737 Max-related charge of $5.6 billion. The stock’s price gain of $13.99 was adding about 95 points to the Dow’s price, which was up 89 points. J.P. Morgan analyst Seth Seifman said despite the larger-than-expected charge, he believes Boeing’s decision to keep 737 Max production at 42 per month and its plan to boost production to 57 per month in 2020 “is likely a relief” for investors.