CNBC Daily Open: Turbulent times for Boeing
Publishing timestamp: 2024-01-09 01:56:37
Summary
Boeing shares plunged 8% after the Federal Aviation Administration ordered airlines to ground dozens of Boeing 737 Max 9 aircraft for urgent inspections. The bad news continued as United Airlines found loose bolts on door plugs of several Boeing 737 Max 9 planes. On the other hand, tech shares boosted Wall Street's main indexes, with the S&P 500 closing 1.41% higher and the Nasdaq Composite jumping 2.2%. Nvidia unveiled three new graphics cards aimed at boosting its presence in consumer GPUs for "local" AI. Mortgage interest rates dropped sharply in December, potentially kickstarting the housing market. RBC Capital Markets raised its year-end S&P 500 price target. The recent incidents involving Boeing's 737 Max 9 planes have raised questions about the company's quality checks and future aircraft requirements. However, American home buyers may return this year due to the drop in mortgage rates.
Sentiment: NEGATIVE
Tickers: NVDA, UAL, .DJI, BA, .SPX, GOOGL, .IXIC, .STOXX,
Keywords: consumer prices, stoxx 600, banks, alphabet inc, nvidia corp, boeing co, united airlines holdings inc, world markets, markets, business news, united states, s&p 500 index, dow jones industrial average, nasdaq composite, prices, inflation,