The Tell: How this one stock could ultimately be responsible for killing the bull market

Stocks rallied Wednesday thanks to Fed Chairman Jerome Powell’s signalling a likely interest-rate cut later this month. The S&P 500 SPX, +0.43% and Nasdaq COMP, +0.71% both broke into record territory, while the Dow Jones Industrial Average DJIA, +0.30% was on track to snap a three-day losing streak.

But one stock could single-handedly throw cold water on the recent market strength, warns strategist Bill Blain of London-based Shard Capital, which oversees more than $1 billion in assets.

“I am concerned the market is underestimating just how bad things could go for Boeing,” he warned in his morning note on Wednesday.

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