Your Thursday Market Blip 7/19/18

Your Thursday Market Blip 7/19/18

Stocks pulled back today on mixed trading volume as the Dow fell 134 points to 25,064. Both IBD and BTS indicators are green as earnings reports and economic data flows in.

US natural gas pipeline biggie Kinder Morgan posted earnings and the results were “mixed”. Top line revenue came in with a 2% gain and missed estimates while bottom line profits were up 50% and beat estimates. The company continues to fund pipeline expansion projects out of its cash flow and now that it has moved on after selling its trans mountain to Canada, it has been able to focus on pipeline expansion in the premium basin, gulf coast and eastern seaboard. Natural gas usage in the US and globally is on the rise as both renewable energy and natural gas are gaining favor over oil and coal.

Alcoa Aluminum reported earnings and despite a 25% increase in sales and a huge 145% increase in net income the company lowered its forward guidance saying that trade tariff issues with China and the US was beginning to become a “headwind”. Shares were whacked on the news.

The Farnborough Airshow in England is now officially in the books and it was a success as Boeing booked orders for 673 commercial airplanes worth $98.4 billion along with $2.1 billion in defense related orders. Airbus also faired well with 431 orders mostly for narrow body A 320 Neo jets. The odd thing about his years airshow was that most of the Airbus customers remained anonymous as they feared repercussions from trade wars. Another interesting thing at this year’s airshow was the number of experimental autonomous air taxis that everyone from Google to Rolls-Royce are looking to build. Check it out here on our autonomous Faceplant page.