Boeing pleads guilty, France’s far-right wins | Wilnesh News

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

Dow Jones lags behind tech gains
this Dow Jones Industrial Average It rose about 3.8% in the first six months of this year, far behind the same period last year. Nasdaqup 18.1%, S&P 500 Indexwhich up 14.5% — As investors pile into artificial intelligence-related stocks. On Friday, the S&P 500 and Nasdaq Hits all-time high before pullback. 10-Year Treasury Bond Yield Ministry of Finance Rose as investors digest the latest inflation data. US oil prices Rose For the third week in a row, people are worried War between Israel and Iran-backed Hezbollah militia.

Boeing pleads guilty
U.S. prosecutors plan to seek plea from boeing company Lawyers for the victims’ families said the charges stem from two fatal 737 Max crashes in 2018 and 2019. The Department of Justice is reviewing whether Boeing violated 2021 settlement agreement That shielded the company from federal charges. Boeing later agreed to pay a $2.5 billion fine on conspiracy charges related to the crashes. The Justice Department revisited the agreement after a door panel on a new 737 Max 9 exploded in January, triggering a new safety crisis. In addition, Boeing Agree to purchase spirit aerospace systems inc. $4.7 billion all-stock deal to improve safety and quality.

Far right gains power
Marine Le Pen’s far right National Rally (RN) party makes significant progress According to exit polls, in the first round of the French parliamentary elections, it received 34% of the vote. The left-wing New Popular Front (NFP) coalition received 28.1%, while President Emmanuel Macron’s centrist bloc came in third with 20.3%. Macron has called for early elections to counter the influence of the far right, but his gamble appears to have strengthened his political opponents. The final results will be determined after the runoff on July 7.

under fire
Nike John Donahoe Facing growing dissatisfaction The company’s shares plunged 20% on Friday, its worst day since 1980, after forecasting a sharp drop in sales. At least six investment banks have downgraded Nike stock as Wall Street digests a pessimistic outlook for the world’s largest sportswear company. analyst Morgan Stanley and Stiefel Go a step further and specifically question company management.

Asian shares mixed, China shares lower
Mainland China’s CSI 300 index fell 0.1% Official PMI data showed manufacturing contracted for the second consecutive month. However, a private manufacturing survey showed Business conditions improved significantly Within three years. Hong Kong’s Hang Seng The index is closed for a public holiday. Elsewhere, Japan Nikkei 225 Index almost unchanged Revised first quarter GDP Data showed that the economy shrank by 2.9% annually, down from the 1.8% previously announced. this Taiwan Weighted Index — Asia’s best performing market So far this year — roses and korean Cospi edged higher, while Australia S&P/ASX 200 Index fall down.

(PRO) The rebound will widen
Technology sector drives market performance in 2024, with S&P 500 Index Technology group rises 28% Nvidia Soared 149%, while small caps lagged behind. Oppenheimer chief market strategist John Stoltzfus believes rally will expand. CNBC’s Lisa Kailai Han Follow The reason behind his call.

The New York Times editorial board has Losing confidence in President Bidencalling on him to get out of the way. Iranians need to go again When electing a new president, French voters vote Britons will go to the polls on Thursday after Marine Le Pen’s far-right party scored a resounding victory in the first round of snap elections.

It’s a busy political environment for markets. Wall Street has shown remarkable resilience, thanks to Artificial Intelligence Powered Rally In the first half of this year, we saw Nasdaq Soaring 18% year to date. Nvidia It’s up nearly 150%. There may be more to come; Bank of America believes Nvidia and Apple can still deliver ‘superior returns”.

although one of the largest bulls Wall Street expects gains to extend away from large-cap stocks, Wall Street doesn’t have any good feelings toward Nike CEO. The company had its worst trading day since its initial public offering in December 1980, wiping $28 billion off its market value on Friday. Sharply lowered sales forecast.

John Donahoe joins from eBay to revamp the sportswear giant’s digital pipeline. The company ditched its retail partners and became overly dependent on its retail partners Aging sneaker series and lost to new contenders Hoka and On Running. This would certainly make an interesting case study for an MBA program for all the wrong reasons. As Wall Street questions Donahoe’s stance, he still has Approval from its founder.

Saw it on Friday Inflation indicator favored by the Fed In line with expectations, it raised the possibility of a rate cut later this year.

“I do think the Fed should be ready to cut interest rates at the July 31 meeting, confirm it in Jackson Hole in August and implement it in September.” Wharton Finance Professor Jeremy Siegel told CNBC’s “Squawk on the Street.” He added that one or possibly one-and-a-half rate cuts were already priced in.

He continued: “I actually think there will be more, because the economy will likely be softer and the inflation data will be better, both of which will lead to better interest rates.” Siegel also said, “It’s hard to say” where the bull market’s trajectory currently lies.

During the four-day trading week – with markets closed for the July 4 Independence Day holiday – the key economic data to watch is Friday’s June unemployment data. CNBC’s Sarah Min More on what to expect.

—CNBC’s Lisa Kailai Han, Yun Li, Jeff Cox, Leslie Josephs, Gabrielle Fonrouge, Hakyung Kim, Brian Evans, Spencer Kimball, Ryan Browne, MacKenzie Sigalos, Holly Ellyatt and Lim Hui Jie contributed to this report.