Boeing faces serious challenges

Daily Analysis - 22/10/2019

Boeing’s 737 Max problems start to affect major suppliers

boeing


The famous Boeing faces some really serious challenges now. The company shares extended their declines yesterday following some critical reports last week that revealed concerns from a prime pilot regarding a system on the 737 Max before the two fatal crashes. Some Wall Street experts lowered Boeing, worrying that the result from the crisis that has prevented the company from delivering its best-selling aircraft will cause more damages. On Monday Boeing’s stock dropped 3.8% to a 60-day low of $331.05, cutting 88 points off the Dow Jones Industrial Average, however, it had shaved losses from earlier in the session.

Gold eased over a new optimism from U.S.-China trade war


On Tuesday the famous safe haven Gold has softened. It was dragged down by positive Asian shares that encouraged the development in trade discussions between the United States and China. However, it got supported by the fact that details regarding the negotiations weren't clear. U.S. gold futures lost 0.1% to $1,487.09 per ounce. Spot gold was little exchanged at $1,484.11 per ounce.

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Weak demand keeps oil steady for now


On Tuesday Oil remained steady while increasing concerns over global economic retardation could damage oil demand. WTI crude futures remained level at $53.30 per barrel. Brent crude oil futures fell 6 cents to $58.89 a barrel.

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Optimism keeps greenback on the positive side


On Tuesday, Indications that the U.S. and China extended their efforts to settle their trade conflict helped both the greenback and Asian currencies. All that while the CAD increased as voters went for a crucial election vote. The greenback remained constant versus the most significant currencies in the early Asian session, keeping only a fraction below a 90-day top versus the Japanese yen at 108.57 yen per dollar.

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