Boeing and the industrial narrative amidst CPI data
It's interesting to see $BA up over 3.6% today, currently sitting around 226.49, especially considering the broader sentiment post-CPI. While the services component remains sticky, the industrial side, or at least the market's perception of it, seems to be holding up. I'm keeping an eye on whether this strength in names like Boeing is a sector-specific anomaly or if it's the start of some rotation back into cyclicals, perhaps on a longer-term view that inflation might normalize without a deep recession.
The real question is how much of this is priced into the current valuations versus actual forward guidance. I'm not chasing it, but it certainly has me re-evaluating some of the industrials on my watchlist, specifically those with a significant global footprint. If we see a few more sessions of similar performance, it might signal a shift in how the market interprets the 'higher for longer' rate narrative for these specific segments.
Or perhaps it's just short-term noise. One day's movement doesn't necessarily signal a rotation, especially with the CPI data still pointing to some underlying stickiness. I'd be looking for more sustained volume and breadth before calling it a trend.