Dow trades less than 900 points from record on back of Boeing, 3M stock rallies
The Dow Jones Industrial Average Monday afternoon was climbing sharply higher, supported by components Boeing Co. and 3M Co. Shares of Boeing Co. and 3M were up around 2%, or more, adding almost 100 points to the price-weighted Dow . A $1 move in any one of the Dow's 30 components equates to a 6.89-point swing in the average. The Dow was most recently up 414 points, or 1.6%, at 25,721, putting the gauge 3.4%, or about 895 points, shy of its all-time peak hit Jan. 26 at 26.616.71. Stock benchmarks have moved briskly higher since slipping into correction territory on Feb. 8, defined as a drop of at least 10% from a recent top. The S&P 500 index was up 1.2% at 2,778, about 3.3% shy of its all-time high at 2,872.87, while the Nasdaq Composite Index was 1.2% short of its recent peak at 7,505.77, trading up 1.1% at 7.415 on the day.