(As of 7:20 am PST)
Boeing is in the news again in
a negative way. Continuing problems with
the new 787 has forced Japan Airlines to ground its fleet of 787s. Boeing stock is down over 3%, pulling the Dow
Jones Average down with it. Combined
with profit taking from the Japanese stock market and we have a negative
opening for most US markets. Apple
Computer is a bright spot, up 2%, after taking a battering over the last
month. Goldman Sachs reported profit
much better that expectations while JP Morgan fell a little short and is also
weighing negatively on the Dow. There is
a heavy dose of profit reports which will likely set the tone for market
direction today. Despite the negative
opening for markets I expect a gradual improvement throughout the day. General economic reports continue to show a
strengthening economic picture. Gold is
down moderately while oil is up slightly.
The US dollar is mixed against other foreign currencies. Interest rates are stable.
