Boeing, Coca-Cola Lead Dow Rally as Money Rotates from AI into Defensive Blue Chips

Published Jul 28, 05:43 PM UTC

On July 28, 2026, Boeing and Coca-Cola led a Dow Jones rally as investors rotated out of AI-heavy growth stocks into defensive blue chips. Boeing shares jumped 6% to $223.18 after reporting a surprise $631 million free cash flow beat, despite a wider-than-expected adjusted loss of $0.76 per share due to Air Force One charges. Coca-Cola rose 4% to $87.72, its best day since February 2009, after posting its fifth straight quarterly earnings beat with adjusted EPS of $0.97 and revenue of $13.38 billion. The company raised full-year guidance, citing strong volume growth in Coca-Cola Zero Sugar and Diet Coke. The SPDR Dow Jones ETF gained 1.3%, while the NASDAQ 100 fell 0.48%. Other Dow defensives including McDonald's, Verizon, Procter & Gamble, and Johnson & Johnson also traded higher. Coca-Cola is up 25% year-to-date, while Boeing's analyst price target stands at $270.08.