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Slow Week of Economic Data, Boeing (BA) Gets Subpoena

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Monday, March 18, 2019

On an economic metric front, we have currently embarked on a relatively slow week. Aside from Thursday’s weekly jobless claims report and PMI numbers (both manufacturing and services) later in the week, we don’t see many potential needle-movers scheduled ahead of the bell any day this week. Today we get a new read on the March Home Builders’ Index, but this doesn’t come out until after the market opens.

That said, and unbeknownst to many an investor, we have already begun Q1 2019 earnings season. Yes, it seems like Q4 just ended, but that’s how these things go: fiscal quarter-ends for many S&P 500 companies happen on “off” months; we thus have already heard from important industry leaders like Oracle (ORCL - Free Report) , Adobe (ADBE - Free Report) , Costco (COST - Free Report) and AutoZone (AZO - Free Report) .

For a comprehensive update on what we already know about Q1 earnings to this point, don’t miss Zacks Director of Research Sheraz Mian’s latest Earnings Preview Report: Q1 Earnings Season Gets Underway

Boeing (BA - Free Report) has now gotten the attention of federal prosecutors, who are now investigating what led to 2 separate crashes of the Boeing 737 MAX plane in the past 6 months. A broad subpoena was issued a week ago by a grand jury in Washington DC as lawmakers try to get to the bottom of the airplane which has been grounded worldwide.

Boeing stock, which had regained some traction after an initial selloff following last weekend’s crash of the 737 MAX outside Addis Ababa, Ethiopia which claimed the lives of 157 people, is down another 2% in early trading this morning.

Mark Vickery
Senior Editor

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