“Show a little faith, there's magic in the night
You ain't a beauty but, hey, you're alright
Oh, and that's alright with me”

Sometimes I just put a quote or a lyric from a song I like that has nothing to do with my column and this is one of those lines. Thunderoad, by Bruce Springsteen is one of those gems on “Born to Run” that you can listen to over and over again.
What guy in his right mind would ever say “You aint a beauty but hey, you’re alright”? However, in the context of the song you know its just the right thing to say as your asking this girl to leave it all behind and have faith in you.

We open the week with a few unresolved issues: Chinese trade negotiations, Brexit looming, Boeing 737 crashes and a slowing economy.
I have gone over trade, Brexit and the slowing economy in previous columns and I am not sure anyone has an answer to any of those situations, so we just have to let them play out and prepare for the worst.
The Boeing situation may cascade into something we would not expect from two separate, maybe related accidents.
The short of it is, two of Boeing newest planes, the Boeing 737 Max 8, crashed within months of each other. Several countries have grounded their 737 Max 8’s upon a review of what went wrong with the Ethiopian Flight 302.
It is highly unusual to have two brand new planes crash in such a short period of time. The cause of the Lion Air crash still has not been determined and there are a few similarities between the two crashes other than they were the same exact plane.
The 737 Max 8 is the fastest selling plane Boeing has ever launched and they have an astounding backorder of over 4,000 planes. It goes without saying the stock will get crushed and the repercussions could last for a lot longer than a few trading sessions.
Why is this so important? Boeing has been the Dow Jones Average best performing stock this year. Up 35% so far and it has helped the Dow stay positive all year.
Boeing’s selloff has taken over 200pts off the Dow today and its importance
cannot be overstated. Years ago, IBM was the bellwether Dow stock, then JPMorgan and for the last three years, it’s been Boeing.
Even though the Dow isn’t really a good indicator of market strength or weakness, it’s still the most recognizable index used. The appearance of weakness in the Dow tends to put people at unease about the market and market sentiments can change due to that apparent weakness. Like it or not, Boeing is a key component of the Dow and as this story unfolds, markets will react to its price movement.

Even though it doesn’t appear to be doing much damage to the markets, think of this. At this writing the Dow is up .04% while the S&P is up 1.00%. without Boeing the Dow would be up over 212 pts.

No change, Yet

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