Boeing machinists accept an offer, will return to work
Fifty-nine percent of the rank-and-file members of the International...
Fifty-nine percent of the rank-and-file members of the International Association of Machinists at Boeing’s West Coast factories voted yes to the struggling plane company’s third contract offer, which will provide them with a 43% pay increase over the next four years. They will also get a ratification bonus of $12,000, but they won’t get the traditional pension plan they fought for. However, union leaders had urged the membership to vote yes on the offer and “lock in these gains and work to build more in future negotiations.” The Anderson Economic Group estimated that the workers lost $600 million in wages while striking, and Boeing lost $6.5 billion through the end of last week. The biggest loser was the US economy, which shed $11.5 billion due to the strike. The union members will return to work tomorrow.
Exploding packages bound for North America traced back to Russia. In...
Exploding packages bound for North America traced back to Russia. In July, two “incendiary devices” caught fire at DHL facilities in Leipzig, Germany, and Birmingham, UK, respectively. European investigators just revealed that the packages contained electric massagers “implanted with a magnesium-based flammable substance,” according to the Wall Street Journal, which were sent from Lithuania. Officials say the packages were sent by a proxy for Russian spies and that they were part of a broader plot to test whether dangerous packages could infiltrate the US and Canada. When asked for comment by the Wall Street Journal, Kremlin spokesperson Dmitry Peskov called the story “traditional unsubstantiated insinuations from the media.
The treasurer of America PAC, through which Elon Musk is running his $1 million daily “lottery,” said in a hearing that the recipients “are not chosen by chance.” Regardless, a judge rejected the Philadelphia district attorney’s request to halt the contest.
First-time homebuyers in 2024 had a median income of $97,000, and their median age was 38.
OpenAI and Jeff Bezos invested in Physical Intelligence, a robot startup with the aim of “bringing general-purpose AI into the physical world.”
Colleges are charging “talent fees” and “athletic surcharges” on sports tickets and at concessions stands to help offset the pay college athletes now receive.
Wall Street lost ground in a stagnant session as investors waited for...
Wall Street lost ground in a stagnant session as investors waited for tomorrow's election. Losses were limited, though, as investors seemed in no mood to take on large new positions in either direction with so much uncertainty in the air.
Though major indexes ended in the red, a rallying Treasury market showed signs of life and the benchmark 10-year Treasury note (TNX:CGI) yield dropped from Friday's four-month highs. Yields move the opposite direction of Treasuries.
"The rally looks like the unwinding of election-related trades of the past few weeks," said Kathy Jones, chief fixed income strategist at Schwab. "Yields had moved up more than was justified by the economic data and are now re-adjusting lower."
Whoever ends up in the White House, long-term investors should ignore the noise and focus on their goals and financial plans. Presidential elections have historically had very little impact on markets—stocks, for example, are more influenced by corporate earnings, monetary policy, and economic data than the election outcome.
Here's where the major benchmarks ended:
The S&P 500®index (SPX) dipped 16.11 points (–0.28%) to 5,712.69; the $DJIdropped 257.59 points (–0.61%) to 41,794.60; and the $COMPlost 59.93 points (–0.33%) to 18,179.98.
The 10-year Treasury note yield (TNX) fell five basis points to 4.31%.
The CBOE Volatility Index® (VIX)edged up to 22.11, still below last week's peaks.
Hess Goes Forth in Bakken with Chevron Deal Entangled in Dispute
Hess Corp. continues to move forward in North...
Hess Corp. continues to move forward in North Dakota as it waits to close a $55 billion deal with Chevron Corp., which is involved in arbitration over interests offshore Guyana. The company says it plans to continue running four rigs in the North Dakota Bakken shale playthrough the fourth quarter.
New York-based Hess reported net production of 206,000 boe/d from the Bakken during the third quarter, the company announced in earnings Oct. 30.
Third-quarter Bakken volumes included 91,000 bbl/d of crude oil, 75,000 bbl/d of NGL and 238 MMcf/d of natural gas.
Tropical depression forms, could become Hurricane Rafael and track toward US
The National Hurricane Center said a tropical depression formed in the...
The National Hurricane Center said a tropical depression formed in the Caribbean on Monday. It could eventually intensify into a hurricane and threaten the Gulf Coast by this weekend.
Forecasters said the system is forecast to strengthen into Tropical Storm Rafael and then Hurricane Rafael over the next few days as it moves into the Gulf of Mexico.
However, given significant uncertainties in the long-range forecast track and intensity, the hurricane center said it is too soon to determine what, if any, impacts could occur in the U.S.
"There has never been a tropical storm or hurricane landfall in Texas, Louisiana or Mississippi during November and December. So that would be quite a milestone, but this does not mean that people along the central and western Gulf Coast should let their guard down," AccuWeather lead hurricane expert Alex DaSilva said.