Boeing Rises on Deal With China

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Boeing (BA) - Get Report was up 3.1% in midmorning. The Commerce Department said late Monday that Boeing will sign a "major purchase agreement" today with China.

Boeing reportedly declined to comment on the deal, but according to news accounts, Chinese officials prior to the Sept. 11 terrorist attacks said China planned to purchase 36 Boeing 737s worth as much as $2 billion.

Boeing recently said it was laying off 30,000 workers by the end of next year as a result of a dropoff in sales in the wake of the Sept. 11 attacks.