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Midday Report: Boeing Leads the Dow; JPMorgan Has Faith in Qualcomm

Defense stocks lifted Wall Street to begin the week after Donald Trump's first leg of a trip abroad resulted in billions of dollars' worth of deals.

Defense stocks lifted Wall Street to begin the week after Donald Trump's first leg of a trip abroad resulted in billions of dollars' worth of deals. Crude oil also rallied after of an OPEC meeting later in the week. Dow Jones IndustrialAverage component Boeing (BA) boosted the blue-chip index after Trump's weekend of deals. Saudi Arabia has agreed to buy a series of new aircraft, weapons systems and helicopters.  Qualcomm (QCOM) rose after JPMorgan raised its rating to OVERWEIGHT from NEUTRAL. The firm has high hopes for its pending $47 billion acquisition of NXP Semiconductor (NXPI) . That deal is expected to close by the end of the year. Barclays upgraded its rating on Mylan (MYL) to OVERWEIGHT from EQUAL WEIGHT and increased its price target by $3 to $50. The firm is optimistic its generic version of a multiple sclerosis treatment will be approved.

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