Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Boeing Soars

By Charles Payne, CEO & Principal Analyst
11/11/2019 1:44 PM

It’s a quiet session, but it got a little more exciting with reports Boeing (BA) will have its maligned 737 Max back in service early next year.

Overall market breadth is negative, and the board market is slightly lower which isn’t a cause for concern.  On the contrary, we want the market to take naturally recurring pauses and small pullbacks rather than rally each day out of sense of excessive exuberance.

S&P 500 Index

 

-0.23%

Communication Services (XLC)

 

-0.54%

Consumer Discretionary (XLY)

 

-0.37%

Consumer Staples (XLP)

 

-0.21%

Energy (XLE)

 

-0.13%

Financials (XLF)

 

-0.17%

Health Care (XLV)

 

-0.54%

Industrials (XLI)

+0.09%

 

Materials (XLB)

 

-0.27%

Real Estate (XLRE)

+0.05%

 

Technology (XLK)

+0.02%

 

Utilities (XLU)

 

-0.57%

 

There are a few more earnings report this week and the market may be looking past them for different impetus.

I suspect before the week is over there will be more clarity on the next move in US – China trade talks. That might unlock some cash on the sidelines.  Either way, the bias is still to the upside and the greater risk is to continue to miss the rally.

 


 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.