Local Property News | Posted by Shwe Zin Win
Boeing stock rose and other travel-related shares were mixed Tuesday after Russia announced it has a successful vaccine for the coronavirus.
Boeing (BA) also reported no new aircraft orders in July, while customers cancelled 43 737 Max orders last month. So far this year, the company now has -836 net orders for new aircraft
Boeing delivered just four airplanes last month, two 787 Dreamliners, a 777 and a 767 freighter. The company delivered just 20 commercial jets total in Q2, the lowest amount for a quarter since 1977.
Russian President Vladimir Putin said the Sputnik V vaccine offers "sustainable immunity" against Covid-19 and that his daughter was inoculated. Health officials there said they plan to start offering the vaccine in October.
But Russia is deploying the vaccine without first completing a large-scale Phase 3 trial, and the World Health Organization said it was in talks with the Kremlin over meeting international testing guidelines for the vaccine.
The Sputnik V is not among the WHO's list of six vaccines that are in Phase-three trials. More than 100 vaccine candidates around the world are in earlier stages of development, and global health officials don't see mass inoculation until mid-2021.
Despite the medical community's warning about the Russian coronavirus vaccine, Boeing stock and other travel-related stocks jumped on the stock market today. Shares closed up 0.4% at180.13. Boeing stock hit resistance at its 50-day line and is still well below its 200-day line, according to MarketSmith chart analysis.
Jet-engine makers General Electric (GE) and Raytheon Technologies (RTX) rose 0.9% and 0.1%, respectively. American Airlines (AAL) and United Airlines (UAL) fell 1.9% while Delta Air Lines (DAL) rose 1%.
In a quarterly earnings report Monday, Royal Caribbean Cruises (RCL) executives said that there are "remarkable" bookings for international cruises scheduled to set sail in 2021. Royal Caribbean shares rose 2.4% Tuesday.
Ref: Investor’s Business Daily
