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Wall Street Stalls

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According to Reuters, U.S. stocks headed lower on Monday, following the S&P 500’s seven-day winning streak, as Boeing’s shares took a hit and investors braced for what could be the first decline in corporate earnings since 2016. Shares of the U.S. planemaker fell 4.7%, pulling the S&P industrials sector down 1%, after the company said it would cut production of its 737 MAX aircraft by nearly 20%. Southwest Airlines Co fell 2.7% after the carrier said it was pulling out all 737 MAX jets from its flight schedules through June 7, extending its earlier timeline by a week. The market’s lower earnings expectations and worries about an economic slowdown are now starting to dampen investor enthusiasm.

Added on the 09/04/2019 09:38:25 - Copyright : Wochit

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