Boeing (NYSE: BA) shares advanced the most in six months, hitting all-time highs and lifting related ETFs, as the planemaker expects record aircraft deliveries this year.
The world’s biggest plane maker said it looks forward to its busiest year ever for plane deliveries and expects to add more jobs because of the recent reduction in U.S. corporate tax rate, Reuters reports.
BA shares jumped 4.6% on the improved outlook.
The strength in BA shares helped lift sector-related ETFs. For instance, the iShares U.S. Aerospace & Defense ETF (BATS: ITA), which includes a hefty 11.6% tilt toward BA, rose 0.4% Wednesday. Meanwhile, the Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA: DFEN), which takes the 3x or 300% daily performance of the same underlying index, was 0.4% higher as well.
Additionally, the broader markets were also strengthening on the uplifting earnigns report out of Boeing. For instance, the SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), which includes a 8.9% position in BA, was 0.4% higher.