Two Ways: Boeing Optimistic from the Paris Airshow
Strengthen your portfolio in good times and bad.
From the Paris Air Show, Boeing (BA) Chief Executive Officer Scott Carson said the public will have to wait a little longer to see the first flight of the new 787 Dreamliner. According to Dow Jones, the company didn't want to rush the process since the first flight is the first significant milestone in developing a new plane, but it's still on track to fly before the end of the second quarter of this year.
Carson said he believes the market downturn in the commercial aircraft market for passenger planes has bottomed. But the air freighter side remains difficult and could begin to affect next year's production schedule should further weakness continue.
From the Bull Pen: Props to Professor Mark Bloudek for mentioning Boeing on March 2nd on the Buzz & Banter. Bulls can still look to this stock on a technical basis as it has filled the gap. A sell stop can be set below $49-48 depending on your risk profile.
From the Bear Cave: Bears can look to aircraft lessors instead. Aircastle (AYR) may be an option near the $8 level. See the support resistance line dating back to last summer. A buy stop can be set above that level.
Quick Check Around the World
Asian trading closed with the Hang Seng -2.07%, India -2.38%, Shanghai 1.67%, Nikkei -0.95%, and Taiwan -3.45%.
Glancing towards Europe, we see the FTSE -1.72%, CAC -1.72%, DAX -2.17%
As of 8:00 AM EST, S&P Futures are trading -10 to 930.30 and Nasdaq futures are -14 to 1471.00.
A Look at Commodities
Over in commodities, crude oil is trading -1.10 to 70.94 while gold is -6.54 at 934.30 this morning. Silver is -0.520 to 14.35 and copper -6.90 to 230.45.
The dollar index is +0.7450 to 80.9150.
On the Radar
08:30 NY Empire Manufacturing Index -2.1% cons
09:00 Net Long-Term TIC Flows
Click here for the full trading radar.
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