Here's Why Boeing Stock Slumped Today
(NYSE: BA) shares were down by more than 5% as of midday Friday. The move is impossible to look at in isolation, as the S 500 was down by 2% simultaneously. The reason for the latter is softer-than-expected jobs data that raised fears of a significant slowdown in the U.S. economy.
A slowdown is bad news for the economy and the airlines that drive demand for Boeing's planes. Spending on consumer discretionary travel and corporate business trips drops during economic weakness.
This shouldn't overshadow the recently reported set of second-quarter earnings. The results were received quite well in some corners of Wall Street, with UBS noting the progress made on 737 MAX deliveries, as discussed previously.
Source Fool.com
Boeing Co. Stock
€196.90
-0.830%
Currently there is a rather positive sentiment for Boeing Co. with 51 Buy predictions and 8 Sell predictions.
With a target price of 218 € there is a slightly positive potential of 10.72% for Boeing Co. compared to the current price of 196.9 €.
