Here are the most important news items that investors need to start their trading day:
1. A bumpy beginning
2. Boeing woes continue
Boeing shares dropped in premarket trading Monday, after the FAA grounded about 171 of the company’s 737 Max 9 planes. The agency grounded the aircraft for inspections after a panel blew out of a plane operated by Alaska Airlines during a flight Friday. No serious injuries were reported. The near-catastrophe adds to the scrutiny facing Boeing, which had tried to turn around the 737 Max program after a string of problems including two fatal crashes. In a statement Sunday, the FAA said the planes “will remain grounded until the FAA is satisfied that they are safe.” United Airlines and Alaska are the two largest operators of the affected planes.
3. Staving off a shutdown?
Congress has moved one step closer to avoiding a partial government shutdown. House and Senate leaders on Sunday announced they reached a deal on federal funding for fiscal 2024. Lawmakers are scrambling to write and pass spending legislation by Jan. 19, when funding for some government agencies will expire. Other parts of the government will not be able to keep running after a Feb. 2 deadline. The $1.59 trillion deal includes $886 billion for military spending and $704 billion in non-defense spending. The GOP-controlled House and Democratic-held Senate, which have clashed over spending priorities in recent months, will still have to hash out where exactly the money goes.
4. Audio adversity
5. 2023 in charts
Heading into 2023, a potential economic slowdown and stubbornly high inflation topped the list of worries about the U.S. economy. Even as the Federal Reserve hiked interest rates to rein in elevated prices, job creation remained steady and the economy did not tip into a recession. Those factors are just a few CNBC explored in 12 charts that illustrate how the U.S. economy fared last year. A surge in stocks, the dominance of “Barbie” and a spike in mortgage rates are just a few more of the stories that defined the U.S. economy in 2023. See the full story here.
– CNBC’s Sarah Min, Leslie Josephs, Elliot Smith, Samantha Subin, Christina Wilkie, Annie Nova and Gabriel Cortes contributed to this report.
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