A quick look at yesterday: Boeing shed 8.77%, falling to $133.79.
Core Durable Goods Orders data from United States will be released today at 12:30 UTC with analysts expecting a decline to 0.2%. Potentially significant price fluctuations in Boeing are expected to follow.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States Crude Oil Inventories beat analyst expectations of 1 million and the previous reading of -1.73 million with new data of 2.59 million.
While price action maintains a negative bias, United States New Home Sales (Sep) released yesterday at 14:00 UTC with a figure of 603,000, while the previous figure was 677,000. United States 5-Year Note Auction came out at 4.192.
Despite being in the red so far in the current trading session, Boeing peaked above its 50 day Simple Moving Average around $145.73 — typically an early indicator of a new bullish trend beginning to emerge. In contrast, Boeing is currently flirting with an active Fibonacci support level around $144.48.
Despite suffering losses in today's session, technical analysis is indicating that Boeing will undergo a significant bounce in the immediate term.
On the other hand, positive performances could be seen by looking at other industrials stocks as Raytheon Technologies gained 2.44%, as it traded at $90.52. United Parcel Service was up 1.19%. Caterpillar traded at $196.96 after closing yesterday's trading day at $194.84 (up 1.09%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Pending Home Sales projected to come out at -5% — worse than previous data of -2%; data will be released tomorrow at 14:00 UTC. Today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0.2% from the preceding figure of 0.3%.
Some optimism can drawn from the fact that United States GDP is projected to outperform its last figure with 2.4, having previously been at -0.6. The figure will be published today at 12:30 UTC.
The aircraft and rotorcraft manufacturer reached a significant high of $233.09 around 11 months ago but has lost 37.08% since then.