Once again, the market is struggling to maintain gains as the session has largely been lackluster.
News from Southwest Airlines (LUV) has extended its plan to delay return Boeing 737 Max airplanes back to service knocked Boeing (BA) and pulled the Dow Jones Industrial Average lower.
Dan Niles went on TV to announce he’s short on semiconductors and sees weakness in Netflix (NFLX). Niles became famous during the dot.com era, but his work is good, although not infallible.
Disney’s (DIS) upgrades to “overweight” and new target of $160 from $135 at Morgan Stanley. The move in the Disney is lifting the beleaguered communication services sector.
Oil stocks remain elevated after attacks on two oil tankers in the Persian Gulf. Energy is only 5.3% of the overall S&P 500.
Airline stocks are higher on reports American Airlines (UAL) has hiked one-way ticket prices by $5.00.
Brick and mortar retail fetching a bid as investors begin to sift through the wreckage. There will be winners and there will be big winners when the smoke clears.
Retail Index (XRT)
If major indices take out highs established at the start of the session, that would be a strong short term buy signal. For the DJIA, that’s 26,146.
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