But, you know, the A380 is important to the Canadian aerospace industry too, as over 100 Toronto area companies are suppliers. And I'm sure that other countries outside Europe are benefiting as well.

Meanwhile Boeing (NYSE: BA) is going to report earnings today. Judging from the timing of the spate of orders this week for the Dreamliner (7E7), which is about half the size of the A380 -- but touted as the more fuel efficient " a cynic would forecast a disappointing report is on its way.

But, despite a 25 pct move higher for BA stock in the past three months, which is an unsustainable pace, it could move even higher today on a good report, i.e., both positive earnings and guidance.

On the other hand, traders like to ‘buy on the expectation, and sell on the news'. And given that today is likely to be another down day for the U.S. equity market, as it has been for Europe, BA will likely join the parade.

Besides, BA's PE is now over 26. The stock is trading at almost 14 times cash flow. It might be time for a rest.