CNBC Daily Open: Boeing's ‘moment of reckoning'

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The outgoing CEO of Boeing, Dave Calhoun, will be in front of a Senate panel today to testify about its recent safety scandals.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribejumped nearly 1%, continuing an upward trend of seven weeks of gains in the past eight for both the S&P 500 and Nasdaq. TheImmigration has helped the U.S. job market sustain a strong run in recent months without reigniting inflation, economists and analysts say.

. Citing robust company fundamentals and strong earnings growth, Evercore ISI's bullish outlook suggests a potential 10.5% surge from current levels.into a 737 Max flown by Southwest Airlines, which suffered substantial damage from a Dutch roll at nearly 38,000 feet. While the plane was carrying 175 passengers and six crew traveling from Phoenix to Oakland on May 25, the tail wagged side to side and the wings rocked violently. A Dutch roll, while rare, can potentially be dangerous.

Boeing already burned through $4 billion in cash in the first quarter as it attempted to rectify production issues. CFO Brian West warned last month that figure could be similar or"" in the second quarter. The company's stock, which has fallen by almost a third since last year, edged higher ahead of the Senate hearing.

 

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