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It Will All Come Down to Boeing

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Shares of Apple and Amazon have stalled, implying that institutional sponsors of these two very important stocks may need a rest before they can lead the next charge higher. ‘Freaky’ Friday would be a good day to take such a crazy leap, except that the broad averages looked too punk on Thursday to deliver one. Moreover, Boeing, which will be driving the Dow’s ups and downs for a while,  may have gotten as much mileage as it’s going to get from a well-spun news story about how the company will seek the approval of some of its biggest sovereign customers for planned safety changes in the 737 Max. The stock’s strong short-covering rally was showing signs of getting second wind after the close, but in any event, the Dow is not going anywhere without Boeing’s leadership.

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