Monday, October 21, 2019

"Boeing Drags Down Dow, Short-Squeeze Sends Small Caps Soaring"

Following on this morning's "FT "Boeing is dragging down the US economy" (BA)".

From ZeroHedge:
More trade deal "progress" headlines, Kudlow jawboning, Brexit deal optimism fades, continued weakness in macro data but a squeeze proves everything is awesome in stocks as the S&P is lifted back above 3000...

Chinese stocks were mixed on the day with small caps/tech on the losing side and bigger cap names leading (thanks to two buying-panics)...
Source: Bloomberg
European markets ended the day higher, led by Germany (and UK's FTSE rebounded from a weak open)...

Source: Bloomberg
While Boeing weighed down the Dow...
Small Caps and Trannies surged out of the gate and accelerated again after the EU close...
The S&P 500 once again battled with the 3,000 level as various repetitive trade progress headlines attempted to defend the Maginot Line... First close above 3k sine 9/18...

...MORE

Friday: "The Broader Market Is Setting Up For A Move Higher"