Boeing (BA) is the defense and aerospace stock that investors will avoid this morning. Reuters reported that the firm did not have requirement documents that detailed the removal of a key part. That part failed during a mid-air emergency.
BA stock is at risk of breaking below a key $200 support price, which held up since Jan. 16. In Dec. 2023, the stock traded at over $260.
In the regional bank segment, one year after several banks collapsed, New York Community Bank (NYCB) is today’s ideal trade. Former Treasury Secretary Steve Mnuchin is among the investor groups that invested $1 billion. Before the Mnuchin bailout, customers withdrew billions from NYCB accounts. Commercial real estate and Signature Bank are weighing on NYCB stock.
The investment group is unlikely to lose money, thanks to the $2.00 price and warrants. Existing shareholders face severe dilution.
Tomorrow, markets will renew their focus on the inflation report. An overheated CPI report would hurt stock the S&P 500 and Nasdaq (QQQ), especially after they closed at new record highs last week.
Today’s Warning
Among the China technology sector today, beware of renewed selling in Baidu (BIDU). Markets will question Baidu’s AI prospects as the U.S. mulls blacklisting several Chinese tech firms. This includes ChangXin Memory Technologies or CXMT. The government may add the firm to the entity list that restricts Chinese firms from accessing U.S. technologies.
