Stocks opened the day lower but then closed mixed with the Dow falling and the NASDAQ rising on the strength of stocks like Faceplant and Amazon which both moved higher. At the close the Dow was off 22 at 26,783 on very light volume. It was a boring day and both IBD and BTS have markets in rally mode.
The news driving stocks comes from a series of talks over the next few days by Federal Reserve Chairman Jerome Powell. Market gurus will be listening to what he says for hints on rate policy action later this month.
Boeing reported aircraft deliveries for the 2nd quarter and for the first 6 months of the year the company has delivered 239 commercial aircraft which is down 37% from the same period last year. The falloff is due to suspended deliveries of the 737 Max. Boeing has delivered 42 787’s and 12 777’s. For the past eight years Boeing has held the crown of the largest aircraft maker in the world but with 737 troubles and Airbus scheduled to post its delivery numbers later today the gurus are thinking that Boeing will fall to second place.