1. Running to records
US stocks have constantly risen to recent records. The S&P 500 And Dow Jones Industrial Average Both recorded their highest closing prices ever on Friday. Both these indices and the Nasdaq Composite rose greater than 1% last week. As investors control the U.S. presidential election, the Middle East conflict and Federal Reserve policy, a series of key gains will even help resolve whether stocks proceed their record run. Follow live market updates here.
2. Focus on returns
The big banks will make headlines with per week of below-average profits. The results come after JPMorgan Chase and Wells Fargo kicked off earnings season on Friday with better-than-expected reports, helping set recent market records. In addition to financial stocks, major airlines, healthcare and media firms will even report earnings later this week. Here are crucial reports:
3. Boeing is cutting back
BoeingThe problems are increasing. The aircraft maker said on Friday it will cut 17,000 jobs, or 10% of its workforce, because it struggled to contain losses and a greater than month-long machinists' strike crippled production at aircraft factories. Boeing also announced that it will not deliver the 777X wide-body aircraft until 2026. The company expects to report a lack of $9.97 per share within the third quarter. In a memo to staff, CEO Kelly Ortberg said: “Restoring our business requires difficult decisions and we must make structural changes to ensure we remain competitive and able to deliver to our customers over the long term.”
4. Shall fly
SpaceX reached a significant milestone on Sunday as Elon Musk's company accomplished the fifth test flight of its Starship rocket. For the primary time, the rocket's 20-story-plus support returned to the arms of the launch tower nearly seven minutes after launch, a very important step toward reusability of the rocket system. The Starship rocket entered space and circled halfway across the Earth before returning as planned and landing within the Indian Ocean.
5. Political challenges for 2024
The 2024 election will bring major risks for the company world. Vice President Kamala Harris and former President Donald Trump have taken different stances on taxes, tariffs, regulation, health care policy and clean energy, amongst other issues, meaning November's final result could lead on to drastically different outcomes for key firms. CNBC reporters examined what Harris and Trump's policies could mean for the industries they cover, including airlines, banking, electric vehicles, restaurants and technology. Read more concerning the impact of the election on American businesses here.
image credit : www.cnbc.com