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Afternoon Note

Remarkable Session

By Charles Payne, CEO & Principal Analyst
3/12/2019 1:39 PM
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It’s really a remarkable session that sees every S&P 500 sector higher, except Boeing (BA), which is experiencing an exodus of countries willing to allow the 737 Max 8 to take off.  Some of those countries won’t even allow the plane in their airspace.

The pressure on Boeing is holding down the Dow Jones Industrial Average.  I think, by the end of the day, the United States will be the only country allowing the 737 Max 8 in the air.  I said yesterday, the company would have to take a stronger approach.

It’s going to be interesting to see if one stock can pull down the entire stock market.  And because it’s the largest weight on the Dow, it’s easier.  But in this contest of push-pull right now, Boeing has put the rest of the market into a holding pattern.

S&P 500 Index

+0.46%

Communication Services (XLC)

+0.62%

Consumer Discretionary (XLY)

+0.18%

Consumer Staples (XLP)

+0.04%

Energy (XLE)

+0.90%

Financials (XLF)

+0.30%

Health Care (XLV)

+0.67%

Industrials (XLI)

-0.61%

Materials (XLB)

+0.61%

Real Estate (XLRE)

+0.62%

Technology (XLK)

+0.83%

Utilities (XLU)

+0.69%

 

Comments
Iím a retired truck driver 40 years experience all in Alaska. Professional drivers know when loosing control on ice you have to accelerate though it goes against your common sense to speed up when out of control. Just guessing it is similar with plane. Plane going downward and having to push nose down for more speed to keep flying. And if computer is pushing nose down that might be quite unsettling to pilot in new plane.

Phil on 3/12/2019 2:22:00 PM
BA is definitely going to have to take a stronger approach to the 737 Max issue. While I can relate to the complexity of the interaction between the aircraft control system code, the flight dynamics, and the pilots' training, the fact remains there has been huge loss of life. Simply stating that the aircraft has been exhaustively tested and is safe, rings pretty hollow at this point.

W.Keys on 3/12/2019 5:30:02 PM
 

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