The Street
The Street
  • 3 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Boeing has a mother problem on its hands.

Category

🥇
Sports
Transcript
00:00I'm Conway Gittens reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:05The S&P 500 and the Nasdaq both snapped eight-day winning streaks as investors take a break
00:10from a torrid buying pace.
00:12Eyes remain on the retail sector.
00:14Lowe's managed to beat second-quarter profit forecasts, but sales were softer than expected
00:20and the home improvement retailer warned of weaker results for the rest of the year.
00:25Wednesday will be busy for corporate reporting.
00:28Sales are due from Target, TJX, Macy's and Snowflake.
00:33In other news, there are more problems at Boeing.
00:36A test flight for the long-delayed 777X revealed a structural issue between the engine and
00:43the wings of the plane.
00:45In a statement to media outlet The Air Current, which broke the news, Boeing said, quote,
00:50during scheduled maintenance, we identified a component that did not perform as designed.
00:56Our team is replacing the part and capturing and learning from the component and will
01:00resume flight testing when ready.
01:03This is just the latest setback for a plane that was supposed to be up in the air four
01:07years ago.
01:08And that's not Boeing's only problem.
01:11This revelation followed one day after the FAA ordered inspections of all 787 Dreamliners
01:17after the Super Jumbo Jet went into a sudden nosedive back in March.
01:22In addition, there was that infamous Alaska Airlines incident in January when a door blew
01:27out mid-flight on a 737 Max.
01:30Boeing's new CEO has his hands full with quality concerns, safety lapses, numerous federal
01:36probes, whistleblower allegations and delivery delays that have eroded the company's once
01:41stellar reputation and wiped out $33 billion in sales since 2019.
01:48That'll do it for your daily briefing.
01:50From the New York Stock Exchange, I'm Conway Gittins with The Street.

Recommended

1:58
I
Up next
32,000 Boeing employees may go on strike
The Street
1:43
Boeing pleads guilty to defrauding the FAA
The Street
1:59
33,000 Boeing workers hit the picket lines
The Street
2:01
Boeing door incident causes hundreds of flight cancellations
The Street
2:05
Boeing strike to continue after union rejects latest offer
The Street
2:02
Boeing workers vote to accept new deal
The Street
2:01
Southwest Airlines reveals how new boarding process will work
The Street
2:01
Boeing withdraws pay raise offer to striking workers
The Street
1:57
Boeing implements hiring freeze amid strike
The Street
1:55
Boeing could lose billions due to ongoing strike
The Street
1:44
Southwest Airlines says it will no longer offer open seating
The Street
2:01
Boeing increases offer to striking workers
The Street
1:54
Spirit Airlines won’t file for bankruptcy
The Street
1:54
Boeing to borrow $10 billion and raise an additional $25 billion
The Street
1:51
Delta delays and cancellations cost company $500 million
The Street
1:51
Major U.S. airlines sue DOT over new transparency rules
The Street
1:51
Biden Administration introduces “fee-free family seating” proposal
The Street
2:08
Delta customers sue for refunds over flight cancellations
The Street
2:10
Wizz Air introduces $550 “all you can fly” subscription
The Street
1:52
Delta officially sues CrowdStrike over July meltdown
The Street
2:06
U.S. airlines push for fewer flights to China
The Street
1:45
United Airlines is switching up its boarding process to save time
The Street
1:53
More affluent Americans are living paycheck to paycheck
The Street
1:10
Inside United Airlines New Boeing, Airbus Jets
The Street
2:11
Elon Musk faces challenges in the U.S., Brazil, and Chechnya
The Street