Potential strike could spell more bad news for Boeing stock

Transcript:

Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet nowadays.

Wall Boulevard is hoping to improve from the beating it took on Tuesday when a slump in Nvidia worn out $279 billion in a single stock by myself - the biggest one-day loss for any single stock in history.

The newest economic news is doing little to beat back recession fears. Job openings dropped to 7.7 million in July from 7.9 million in June. Job postings were down by 1.1 million in comparison with the same time last year. The news comes upfront of the all-important jobs report on Friday.

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In other business headlines…the headaches for Boeing continue to mount. The aerospace giant is facing the aptitude strike of 32,000 workers in advance of the month of September is out.

Employees who're a component to the International Association of Machinists will see their labor agreement end on September 12. If a fresh deal isn’t reached, these workers who've the extremely important task of making Boeing airplanes may maybe hit the company with its first walkout in Sixteen years. To this point, negotiations aren’t going well, in step with one local union official. All sides are at odds over pay, health insurance, retirement, and paid break day.

Boeing can infrequently find the money for a workers’ strike at a time when that is already bleeding billions of bucks and its once stellar manufacturing reputation is in tatters. Most recently, issues of safety at its spacecraft unit have left NASA astronauts stranded at the International Space Station. Meanwhile at Boeing’s airplane division, its credibility took every other ding after a door flew off a 737 MAX plane mid-flight in January, and that’s after 2 deadly crashes grounded Boeing’s most profitable plane from 2019 to 2020.

That’ll do it to your Day-after-day Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.

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