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Will the Boeing strike drag the Dow Jones lower later today?

A long time ago the US aircraft manufacturing giant, Boeing was one of the biggest stock components within the Dow Jones, but that is not the case these days. Boeing (BA) is ranked 19 on the index by weight. That said it can still influence the direction of the index in the absence of any other components making a move. Well, a couple of hours ago workers at Boeing voted overwhelmingly for industrial action and go on strike. That news has dented the pre-market price of the stock and it is currently lower by around 4%, but it could be set for much more than that, when live trading resumes this afternoon. That remains to be seen. Now, earlier this morning the Dow Jones was pricing a reopening as high as 41,200, but it has since repriced that below 40,100. The index is currently pricing it at around 41,150 as the earlier gains here in Europe, such as they were confined mostly to the DAX, have dwindled somewhat.

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