Stocks retreat from record highs as market pauses
Wall Street cooled from its record run as the S&P 500 fell 0.3 percent to 5218.19 and the Dow dropped 0.4 percent to 39313.64 while the Nasdaq slid to 16384.47. Fed rate cut expectations lingered on cooling inflation and stronger earnings are needed to justify valuations. United Airlines dropped 3.4 percent amid regulatory scrutiny after fuselage and tire incidents, Boeing edged higher 1.4 percent after a management shakeup.
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Trump Media to Begin Nasdaq Trading in Truth Social Bid
Trump Media & Technology Group will start trading on Nasdaq today after a merger with Digital World Acquisition Corp. Former President Trump is set to own nearly 79 million shares valued near 3 billion dollars, with a six month lock up delaying cashing out. The firm reported a 49 million dollar loss last year on 3.4 million revenue.
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Boeing chief to depart by year end in major shakeup
Boeing announces CEO David Calhoun will step down at year end as part of a broad management shakeup. Stephanie Pope becomes head of the commercial airplanes division, Stan Deal retires, and Lawrence Kellner steps aside with Steven Mollenkopf named board chair. The move follows ongoing 737 and supplier quality issues and FAA scrutiny.
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Southern California hotel workers ratify contract after long strikes
Unite Here Local 11 says 34 hotels approved a new pact running to January 15 2028 with 98 percent support. The deal raises wages for non tipped staff by about 40 to 50 percent over the term, boosts pension contributions, ensures workload guarantees, and preserves health insurance with low monthly costs.
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