Boeing traders are preparing for a tough opening bell in a hour time as pre-market trade emphasizes yesterday's bearish bias. The aircraft manufacturer has almost recovered all its losses from a previous close of $175.35 after dipping down to $171.96 yesterday.
United States Building Permits (Oct) is next today at 13:30 UTC.
United States Crude Oil Inventories published yesterday at 15:30 UTC came out at -5.4 million, falling short of the -440,000 projections and continuing its decline from the previous 3.92 million figure.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – data for United States Core Retail Sales published yesterday at 13:30 UTC came out at 1.3%, beating projections of 0.4% and showing improvement over the preceding figure of 0.1%. United States Retail Sales improved upon its previous reading of 0% with a new data release of 1.3%.
Visual analysis of Boeing's chart shows that Boeing could begin to recover as it approaches significant support, now $1.26 away from $171.43. Dipping below could be an indication that further losses are ahead.
Boeing was not the only decliner in the industrials sector; United Parcel Service dips 2.43% yesterday to close at $181.47. Raytheon Technologies lost 1.5% yesterday and closed at $94.35.
On the other hand, positive performances could be seen by looking at other industrials stocks as Union Pacific traded at $212.27 after closing yesterday's trading day at $210.66 (up 0.76%).
Furthermore, United States Philadelphia Fed Manufacturing Index (Nov) will be released today at 13:30 UTC. United States Existing Home Sales (Oct) is expected tomorrow at 15:00 UTC. United States Building Permits (Oct) is scheduled for today at 13:30 UTC.
After hitting an important low of $115.86 approximately 5 months ago, the aircraft and rotorcraft manufacturer has bounced back 51.35% since.