Boeing Orders Are Up; Transportation ETF Cleared to Take Off? | ETF Trends

The PowerShares Aerospace & Defense (PPA) exchange traded fund (ETF) could benefit from news that Boeing (BA) shares rose Friday. Boeing is a major component in the fund at 6.8%. The company reported orders of 85 more planes this week.

The Associated Press reports that the aircraft maker’s stock rose more than 2% on Friday. These gains contrast the markets’ fall of Bear Stearns, which is getting bailed out by the government and J.P. Morgan Chase. Morgan Stanley upgraded Boeing shares on the news that more orders will boost stock and earnings this year.

PPA could use some help lifting off: it’s down 13.1% year-to-date.

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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.