Boeing hits 14-month high on Saudi-US defense investment deal

Shares of Boeing BA.N rise 2.4% to $203.29 per share, their highest level since March 1, 2024

BA shares rose as much as 3.2% to $204.97; stock second-biggest gainer in the S&P 500 Aerospace & Defense (Industry) .SPLRCAED index

U.S. and Saudi Arabia sign an economic partnership deal; Saudi Arabia's commitment includes a defense sales agreement worth nearly $142 billion

AviLease, a jet lessor owned by Saudi Arabia's sovereign wealth fund PIF, places an order to buy up to 30 737 MAX jets

BA also delivers 45 commercial jets, nearly twice of what it delivered a year ago

BA shares are set for a fourth straight session of gains; up ~9% in four sessions

De-escalation in U.S.-China trade conflict, Beijing lifting ban on Boeing deliveries and aircraft order by British Airways-parent IAG has supported the stock over the past four sessions

BA shares up 15.3% this year, including the day's move