Diamonds and Dogs
Boeing (BA) flying higher. The aerospace giant is up 4% after taking a $4.9 billion charge against the grounding and delays of the 737 MAX plane. The delivery delays and grounding of the 737 will also cost Boeing $1.7 billion in expenses, but investors seem relieved it wasn't worse. On the plus side, Boeing expects the 737 MAX to return to service early in the fourth quarter of 2019, with a ramping up in production taking place over the coming year or so.
Good news, bad news. Credit card Company, American Express (AXP) is down 2% to a one month low following earnings. Earnings actually beat expectations as sales rose 8.4% to $10.84 billion ahead of estimates thanks to a 7% rise in U.S. spending. Investors however were disappointed due to higher expenses, up 9% as American Express paid out higher rewards to card owners. The good news is, American spending continues undeterred, despite mounting worries about the global economy and the U.S.-China trade war.