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Dow All Alone at New Highs

Jim Giaquinto

The Dow barely managed to hang on and finish Monday's session in the green, but it was still enough to register new highs on this quiet Veteran’s Day  as Boeing actually helped the index recover from earlier losses.

The airplane giant is hoping to resume deliveries of its grounded 737 Max jet as soon as next month with a return to service possibly early next year.

Boeing has been waiting to deliver such a report and advanced more than 4.5% today, providing the Dow with a much-needed boost after dropping more than 150 points at its worst.

The index finished higher by 0.04% (or a little more than 10 points) to a new record of 27,691.49.


(It’s in the enviable position of making new highs with any positive close!)

The Dow really needed some good news or it would probably have joined its counterparts with losses on this slow holiday session when the banks and bond markets were closed.

The S&P slipped 0.20% to 3087.01 and the NASDAQ was off 0.13% (or about 11 points) to 8464.28. The indices came well of their lows, but couldn't get above breakeven.

The NASDAQ is coming off its sixth straight week of gains, while the S&P and Dow have winning streaks of 5 and 3 weeks, respectively.

Business will pick up the rest of this week. Earnings season may be coming to end, but there’s still plenty of reports on deck. Retailers are the last big group scheduled to come to the plate, including Walmart on Thursday.

We’ll also be getting some economic data from this space as retail sales are scheduled for Friday. Next stop will be the holiday shopping season!


Today's Portfolio Highlights:

Black Box Trader:
The portfolio had a lot of changes in this week’s adjustment. The SEVEN stocks that were sold today included:  

• CDW Corp. (CDW, +5.7%)
• Foot Locker (FL, +3.8%)
• Lowe’s Cos. (LOW, +1.3%)
• Walmart (WMT)
• Mattel (MAT)
• Verizon (VZ)
• NRG Energy (NRG)

The new buys that replaced these names are:

• AECOM (ACM)
• Arconic (ARNC)
• MasTec (MTZ)
• Navient Corp. (NAVI)
• Quanta Services (PWR)
• Target (TGT)

Read the Black Box Trader’s Guide to learn more about this computer-driven service designed to take the emotion out of investing.

Happy Veterans Day!
Jim Giaquinto

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