How this one stock could ultimately be responsible for killing the bull market:
Stocks have rallied this week thanks to Fed Chairman Jerome Powell’s signalling a likely interest-rate cut later in the month. The Dow Jones Industrial Average DJIA, +0.85% S&P 500 SPX, +0.23% and Nasdaq COMP, -0.08% have all broken into record territory.
“I am concerned the market is underestimating just how bad things could go for Boeing,” he warned in his morning note on Wednesday. “When it does, the whole equity market will knee-jerk aggressively, triggering pain across all stocks.” “That’s pretty stable for a company that could be in serious trouble from a host of demand issues regulation, legal , cash, a loss of confidence, and a growing perceptions the company lost sight of safety in search of profit,” Blain explained.
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