TheStreet's Sara Silverstein brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, April 8.
Full Video Transcript Below:
SARA SILVERSTEIN: I’m Sara Silverstein reporting from the New York Stock Exchange. This is what we’re watching on TheStreet today.
Stocks are coming off a losing week on Wall Street after a sticky inflation report and a stronger than expected March jobs report dampened hopes of a rate cut in 2024.
Investors are looking ahead to two key inflation reports later this week – Consumer Price Index out Wednesday and Producer Price Index out Thursday. Both reports will be crucial when the Federal Reserve makes its next interest rate decision in May.
In other news, Boeing is again facing scrutiny for an incident involving one of its 737 jets. According to the F.A.A., an engine cover on a Southwest Airlines flight fell off during takeoff and then struck one of the plane’s wing flaps. The flight, which was traveling from Denver to Houston with 135 passengers, returned safely to Denver International Airport.
According to radio transmissions with air traffic control, a member of the crew asked to "declare an emergency for Southwest 3695 and we’d like an immediate return. We’ve got a piece of the engine cowling hanging off." No injuries were reported.
The incident is yet another black eye for Boeing - and one of several involving Southwest aircraft over the last few weeks. On April 5th, an engine fire caused a Southwest flight to abort its takeoff and return to the gate. And in March, a Southwest flight was forced to turn around mid-flight after the crew reported a possible engine issue. Both incidents involved Boeing-made planes.
After a tumultuous tenure with the company, Boeing CEO Dave Calhoun announced he would be stepping down at the end of 2024.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Sara Silverstein with TheStreet.
This video incorrectly states that it was a 737 Max plane and it was in fact a 737-800 plane. The transcript has been edited to reflect this correction.
