Here are the most important news items that investors need to start their trading day:
1. Welcome back
Stocks rebounded Monday following a week of losses to kick off the year. The broad S&P 500 finished about 1.4% higher, while the tech-laden Nasdaq jumped a stellar 2.2%. The Dow only improved by about half a percentage point as component Boeing’s slide weighed on the blue chip index. (More on Boeing below.) This week, investors have their mind on inflation, with the consumer price index and the producer price index due Thursday and Friday, respectively. Earnings season is kicking off this week, too: JPMorgan, Citigroup, Wells Fargo, Bank of America, Delta Air Lines and UnitedHealth all report Friday. Follow live market updates.
2. Bad time for Boeing
In this photo released by the National Transportation Safety Board, NTSB Investigator-in-Charge John Lovell examines the fuselage plug area of Alaska Airlines Flight 1282 on Sunday, Jan. 7, 2024, in Portland, Ore.
National Transportation Safety Board via AP
Shares of aircraft manufacturer Boeing fell 8% on Monday, days after a panel blew out on an Alaska Airlines plane midflight. After the incident, which didn’t cause any deaths or major injuries, the Federal Aviation Administration grounded dozens of Boeing 737 Max 9 planes across various airlines and called for inspections. Indeed, United Airlines said Monday that it had found loose bolts in door plugs on several of their Max 9s while performing such checkups. Alaska also said it found “loose hardware” during examinations. Boeing, meanwhile, finds itself under even more scrutiny following the latest problems with its aircraft.
3. ‘Rare bug’
Sam Altman, chief executive officer of OpenAI, at the Hope Global Forums annual meeting in Atlanta, Georgia, US, on Monday, Dec. 11, 2023.
Dustin Chambers | Bloomberg | Getty Images
The New York Times has sued ChatGPT maker OpenAI for copyright infringement over the use of the publication’s material in training the artificial…
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