CNBC: “The Dow is not near a record high in a rare divergence from the S&P 500. Here’s why”By admin_45 in Business
Excerpt from CNBC quoting DataTrek's Nick Colas:
.... "The troubled aircraft manufacturer has been a huge drag on the blue-chip index, knocking off more than 260 points just this month, according to FactSet. That’s put a black eye on what otherwise has been a strong run for the Dow.
“I think everyone knows the Dow is Boeing, given the outsize weighting of Boeing in the Dow,” said Wall Street veteran Nick Colas, co-founder of DataTrek Research. “It’s just very hard to make that 30-stock index work when one of those stocks is under so much pressure"....
Read the full article here on CNBC!