Your Thursday Blip 12/3/20

Your Thursday Blip 12/3/20

The vaccine trade continues to bolster markets with the Dow finishing 85 points higher at 29,969. It almost sounds like it’s on sale. “Get the Dow today at 29,999!” Trading volume was higher and both IBD and BTS indicators are positive.
Boeing is getting some positive news lately. American Airlines became the first company to fly the Boeing 737 Max after a 20 month grounding. The flight was a media hop from Dallas to Tulsa (sounds like a country music song). A Brazilian based airline named Gol Linhas Aereas will become the first airline to resume regular service with the 737 Max next week and Boeing is on the cusp of delivering its first Max jet since the FAA recertified the plane. The delivery will be to United Airlines.
Amid the pandemic, online shopping has bolted 44% according to the National Retail Federation. The problem however is that shippers like UPS and FedEx are stressed to the point of notifying customers like Macy’s, LL Bean (love their slippers!), Gap and Nike to stick to volume agreements. UPS reportedly told its drivers to stop picking up packages from certain retailers who are flooding the system. Both FedEx and UPS have raised prices in response to the elevated demand for shipping.
On a completely unrelated side note, a coach for the South Korean Paralympic judo team was indicted for fraud because, while accepting gubment money, he had some of his able bodied athletes lie about their eyesight so they could compete. I guess we could call that …pseudo judo!