TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, May 6.
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Full Video Transcript Below:
CONWAY GITTENS: I'm Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street is feeling optimistic after a weaker than expected April jobs report revived hope that the Federal Reserve could cut interest rates sooner than anticipated. Markets are pricing in about a 50 percent chance that the Fed slashes rates as soon as September.
Meanwhile, names like Disney, Uber, Airbnb, Warner Brothers Discovery, and several others are slated to release earnings this week. So far, a vast majority of S&P 500 companies that have reported have beaten Wall Street estimates.
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And in other news, Boeing is finally launching two NASA astronauts to space on its Starliner spacecraft. After years of delays, Boeing will launch its first ever manned space flight to the International Space Station on Monday. This will be a key final test before the aerospace giant can routinely send flights to the space station.
But it took a while to get to this point – the first test flight was scheduled for 2015 but was delayed for 4 years. In 2019, the aircraft’s unmanned flight was cut short after various software glitches led to a clock malfunction. A second attempt was planned for August 2021 but that was delayed until May 2022, when the Starliner successfully launched to the ISS unmanned instead.
If the test flight is successful, Boeing could compete against Elon Musk’s SpaceX which has been successfully shuttling astronauts to and from the ISS since 2020.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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