Afternoon Note
From worst to first, shares of Boeing (BA) turned around and took the market with it. The company says it will have a software fix for its 737 Max airplanes.
Wall Street believes it will happen, despite the “fix” is an admission the planes weren’t perfect, and maybe, there were legitimate pilot concerns. That part won’t mean much to investors, as all the economic and image damage is probably short-lived.
The market was meandering when the news was released after two economic data releases missed consensus.
Industrial Production
Empire State manufacturing
The index fell to a reading of 3.7, the street was looking for 8.3. This is the lowest level in almost two years. The lone bright spot was employment.
Tech is leading the way, and chips are leading tech. Make sure you have exposure.
If the S&P 500 closes above 2820, I think we are off to the races to re-test the all-time high.
S&P 500 Index |
+0.71% |
Communication Services (XLC) |
-0.08% |
Consumer Discretionary (XLY) |
+0.25% |
Consumer Staples (XLP) |
+0.20% |
Energy (XLE) |
-0.71% |
Financials (XLF) |
+0.26% |
Health Care (XLV) |
+0.15% |
Industrials (XLI) |
-0.35% |
Materials (XLB) |
-0.16% |
Real Estate (XLRE) |
-0.79% |
Technology (XLK) |
+1.27% |
Utilities (XLU) |
-0.13% |
Have a great weekend.
Tweet |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
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