Boeing Helps Power Dow Higher

Boeing stock jumped on its quarterly dividend hike and share repurchase plan.

Author:: Anders Keitz
Publish date:: Dec 12, 2017 12:27 PM EST

U.S. stocks were largely higher on Tuesday with the Dow Jones Industrial Average rising by triple digits as the Federal Reserve kicks off its two-day policy meeting in Washington.

Shares of Boeing Co. (BA) - Get Report rose by more than 2% helping to power the Dow higher. The stock was up after the company announced a 20% hike to its quarterly dividend and an $18 billion share repurchase plan. Boeing will now pay out $1.71 a share, up from $1.42.

Meanwhile, shares of the Walt Disney Co. (DIS) - Get Report were in focus after rival Comcast Corp. (CMCSA) - Get Report announced that it was no longer pursuing the purchase of entertainment assets from Twenty-First Century Fox Inc. (FOXA) - Get Report . A deal between Disney and Fox could be announced on Thursday, CNBC reported.