The market’s relationship with oil is unhealthy. I am thinking codependence, addiction, and delusion. Alcoa reports bad news, a majority of Brits are looking to leave the EU, and both the European and U.S. markets are up, as is oil, some 3.5% BTW.
Britain could deal a damaging blow to the fragile global economy if it votes to leave the European Union, the International Monetary Fund said in the sharpest warning yet.
Analysts anticipate earnings for companies in the S&P 500 will fall 7.9%, their fourth straight quarter of decline and the steepest drop since the second quarter of 2009.
So, what’s the haps? The market turned tail in the last hour yesterday, and today it is acting as if Alcoa reported solid earnings and the recent poll in Britain showed the “Stay In” side up by three, not down by three. Did I mention oil is up 3.5%?
Boeing (BA) opened talks to sell airliners to Iran in what would be one of the highest-profile deals between a U.S. company and Tehran since the West lifted nuclear sanctions on the country in January.
I know it seems I am stuck on autos and airlines, but I go where the trail takes me.
Boeing announced on Thursday that it had delivered a total of 176 commercial jets in the first quarter of 2016, down 4.3% compared with the same period last year.
Is Boeing worth a look, given the stock is down some 15% from a year ago?