The Street
  • 11 months ago
TheStreet’s J.D. Durkin brings you the biggest news of the day, including Boeing in hot water for yet another plane malfunction.

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Transcript
00:00 I'm JD Durkin reporting from the New York Stock Exchange and here's a look at what we
00:03 are watching on the street today.
00:06 Stocks are coming off their first losing week in 10 weeks as investors reacted to a hotter
00:10 than expected jobs report and comments from Fed officials which indicated uncertainty
00:15 ahead.
00:16 This week Wall Street is looking ahead to further comments from the Federal Reserve
00:19 and a key inflation report out on Thursday.
00:23 In other news, Boeing is once again facing an investigation over a malfunction on one
00:27 of its planes.
00:28 On January 6th, a door plug blew out on an Alaskan Airlines flight when the plane was
00:33 flying at 16,000 feet.
00:35 The 63-pound, 4-foot-long panel was eventually found near Portland, Oregon and the plane
00:41 was forced to make an emergency landing and no one was seriously injured.
00:45 According to the Federal Aviation Administration, the plane was a Boeing 737 MAX 9 aircraft
00:51 and had only been in service for about three months, making around 150 flights since October
00:56 2023.
00:58 Of the 215 MAX 9 planes used worldwide, the FAA has since grounded 171 of them under its
01:05 Emergency Airworthiness Directive and has called for immediate inspections.
01:10 Boeing CEO Dave Calhoun wrote a letter to employees after the incident saying, quote,
01:15 "While we've made progress in strengthening our safety management and quality control
01:20 systems and processes in the last few years, situations like this are a reminder that we
01:25 must remain focused on continuing to improve every day."
01:29 The MAX 9 is a larger version of Boeing's MAX 8, which was involved in two fatal crashes
01:34 in 2018 and 2019, leading to the plane being grounded worldwide for nearly two years.
01:40 Alaska Airlines and United Airlines are the only two U.S. carriers that fly the Boeing
01:45 MAX 9.
01:46 They've canceled over 300 flights combined on Monday.
01:50 That'll do it for your daily briefing.
01:52 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
01:55 Thanks.
01:55 [BLANK_AUDIO]

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