The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.

According to Boeing, the problem is related to two fittings in aft fuselages for which Spirit AeroSystems used “non-standard” manufacturing procedures. The issue affects the 737 MAX units in production and in storage as well as some airliners already in use. However, the company notes that the latter can continue operating without any safety risks.

Boeing predicts that taking care of the issues will delay the production and delivery of new 737 MAX jetliners in the near future. The company delivered 111 737 MAXs in the first quarter and was hoping to deliver a total of 400 by the end of the year.

“We expect lower near-term 737 MAX deliveries while this required work is completed. We regret the impact that this issue will have on affected customers and are in contact with them concerning their delivery schedule,” Boeing said in a statement.

Boeing’s stock closed at $213.59 on Thursday before sliding to $203.97 per share in after-hours trading. The company’s shares have been almost 10 percent up year-to-date prior to the dip.

The post Boeing Stock Plunges Amid 737 MAX Production Issues appeared first on theprimarymarket.com.

The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.

According to Boeing, the problem is related to two fittings in aft fuselages for which Spirit AeroSystems used “non-standard” manufacturing procedures. The issue affects the 737 MAX units in production and in storage as well as some airliners already in use. However, the company notes that the latter can continue operating without any safety risks.

Boeing predicts that taking care of the issues will delay the production and delivery of new 737 MAX jetliners in the near future. The company delivered 111 737 MAXs in the first quarter and was hoping to deliver a total of 400 by the end of the year.

“We expect lower near-term 737 MAX deliveries while this required work is completed. We regret the impact that this issue will have on affected customers and are in contact with them concerning their delivery schedule,” Boeing said in a statement.

Boeing’s stock closed at $213.59 on Thursday before sliding to $203.97 per share in after-hours trading. The company’s shares have been almost 10 percent up year-to-date prior to the dip.

The post Boeing Stock Plunges Amid 737 MAX Production Issues appeared first on theprimarymarket.com.