Your Tuesday Market Blip 2/11/20

Your Tuesday Market Blip 2/11/20

Stocks waffled today as the Dow closed down a half point at 29,276 after trading higher for most of the day. Trading volume was up. Coronavirus fears subside as infections per day seem to be declining a bit although traders are keeping a wary eye.
While at the Singapore Airshow, Boeing’s VP of marketing said that with roughly 700 737 Max jets sitting on the tarmac it will take several quarters to get the fleet back into the skies. The company still plans to have the plane certified by mid-2020 but with so many planes on the deck it does not want to overstress the system and add to the current set of woes. In January 2019 Boeing booked 45 orders and delivered 46 planes. This year in January they booked zero orders and delivered 13 planes. Ouch! This was the first January without a new aircraft order since 1962 when JFK was in the White House, Bill Allen was President of Boeing and I was four years old and still a lunkhead.
Shares of Sprint were up 70% today after a Federal Judge ruled in favor of its merger with T-Mobile. A suit had been brought by 13 states saying the deal would drive up prices for wireless services but the judge disagreed and the ruling means the $26 billion merger cleared what could be its final hurdle.

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