Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

The backwardness of the Dow Jones Industrial Average's (^DJI 3.57%) price-weighting system revealed itself today, when its second most heavily weighted stock, IBM, lost 3.28%, and singlehandedly dragged down the blue-chip index. While the Dow lost 41 points, or 0.25%, on the day, both the S&P 500 and the Nasdaq both finished higher -- up 0.06% and 0.41%, respectively.

Countering IBM's decline on the Dow was Boeing (BA -2.54%), which rose 1.91% as the company continues to show strong sales numbers and the ability to find new revenue sources. This morning brought the announcement that Boeing won a $17.8 million contract with the U.S. Navy to maintain and remanufacture F/A-18 fighter jets through September. That came after Congress' approval last Friday of a $75 million down payment for 22 Super Hornet fighter jets, which are being phased out of the military but will continue to be built for now because of delays with the F-35. If the Navy agrees to a full order, the contract could be worth as much as $2 billion, which would be a huge order for a plane whose production was supposed to be finished by now.  

Outside the Dow, the casino industry had a rough day. Shares of MGM Resorts (MGM 3.31%) declined 2.35%, while Las Vegas Sands (LVS 0.71%) fell 1.9% and Wynn Resorts (WYNN -1.61%) dropped 1.64% after analysts at JPMorgan Chase released a statement indicating that the go-go growth days in Macau may be over. The investment bank downgraded shares of MGM China -- which is controlled by MGM Resorts -- based on valuation and limited growth potential in the near term, as no new casinos are set to hit the Macau market within the next year. But while the analysts believe Wynn and Sands both have some upside potential -- 16% and 13%, respectively -- that's also limited compared with what the stocks have done the past few years. In the short term, JPMorgan believes Wynn and Melco Crown are both buys, while Las Vegas Sands will probably benefit the most in the long term, as it's positioned the best to take advantage of the lack of new casino openings in Macau.

That the whole industry tanked on the analyst statement, even though the comments were favorable to every company except MGM, may be a sign that investors think Macau may soon begin to lose its luster. For now, though, shareholders shouldn't panic. These are just the opinions of one analyst at one firm.