1. Running to records
2. Banking on earnings
Goldman Sachs CEO David Solomon joins CNBC’s ‘Halftime Report’ to discuss the latest market trends as financials head for their worst day since August 5, and his outlook on the overall economy on Sept. 11th
CNBC
Major banks will headline a jammed week of earnings. The results come after JPMorgan Chase and Wells Fargo kicked off earnings season with better-than-expected reports Friday, helping to power the new market records. Along with financials, key airlines, health and media companies will post earnings during the week. Here are the key reports:
3. Boeing cuts
Boeing factory workers gather on a picket line during the first day of a strike near the entrance of a production facility in Renton, Washington, U.S., September 13, 2024.
Matt Mills Mcknight | Reuters
Boeing‘s problems are growing. The plane maker said Friday it will cut 17,000 jobs, or 10% of its workforce, as it struggles to curb losses and a more than month long machinist strike idles production at aircraft factories. Boeing also announced it would not deliver its 777X wide-body plane until 2026. The company said it expects to report a loss of $9.97 per share in the third quarter. In a memo to staff, CEO Kelly Ortberg said “restoring our company requires tough decisions and we will have to make structural changes to ensure we can stay competitive and deliver for our customers over the long term.”
4. Meant to fly
SpaceX notched a key milestone on Sunday as Elon Musk’s company completed the fifth test flight of its Starship rocket. In a first, the rocket’s more than 20-story tall booster came back to the arms of the launch tower nearly seven minutes after the launch, a key step toward making the rocket system reusable. The Starship rocket entered space and traveled halfway around the Earth before returning and splashing down in the Indian Ocean, as planned.
5. 2024 policy stakes
Republican presidential nominee, former U.S. President Donald Trump speaks as Democratic presidential nominee, U.S. Vice President Kamala Harris listens as they attend a presidential debate hosted by ABC in Philadelphia, Pennsylvania, U.S., September 10, 2024.
Brian Snyder | Reuters
The 2024 election will have huge stakes for the corporate world. Vice President Kamala Harris and former President Donald Trump have taken differing stances on taxes, tariffs, regulation, health policy and clean energy, among other issues, meaning November’s result could lead to drastically different outcomes for key companies. CNBC reporters dug into what Harris and Trump’s policies could mean for the industries they cover, including airlines, banks, electric vehicles, restaurants and technology. Read more about the election’s implications for corporate America here.
– CNBC’s Yun Li, Leslie Josephs, Michael Sheetz, and Hugh Son contributed to this report.
Original news source Credit: www.cnbc.com
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