The Street
  • 7 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Boeing’s new production and safety protocols.

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Transcript
00:00I'm Conway Gittens reporting from the New York Stock Exchange. Here's what we're watching on
00:03the street today. Investors are reacting to the PCE report. Consumer prices rose 0.3% in April
00:10and 2.7% since 2023, both in line with analysts' expectations. The Federal Reserve pays the
00:17closest attention to this inflation report and will take this data into account when it makes
00:22its next decision on interest rates. Investors are anxious that sticky inflation could delay
00:27interest rate cuts even further into 2024. In other news, Boeing executives including CEO Dave
00:34Calhoun met with the Federal Aviation Administration to present sweeping changes to the company's
00:40production process and safety systems. Boeing's plan promises improved employee training,
00:46clearer instructions for assembly line workers, and the prevention of suppliers
00:51shipping flawed plane parts. According to the company, it has already implemented several new
00:56quality control plans, including the purchasing of 7,500 new tools and equipment, 400 updated
01:03employee instructions, and 300 hours of employee training materials. Boeing's CEO of Commercial
01:09Airplanes stated, quote, we will succeed as a team and execute with safety, quality, and compliance
01:15in everything we do. Despite the new protocols and improvements, the FAA wants to see more. The
01:22agency says it will not permit Boeing to increase its max aircraft production until it is satisfied
01:29with production quality. FAA head Mike Whitaker says he does not think that will happen for at
01:35least several months. Boeing is under pressure to fix production flaws after a number of high-profile
01:41safety issues, including a January incident where a door panel blew out mid-flight. And that'll do
01:47it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with The Street.

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