Here are the most important news items that investors need to start their trading day:
1. Taking a break
Stocks slipped Monday as the recent rally to record highs took a pause. The Dow Jones Industrial Average dropped 162.26 points, or 0.41%, for the day. The S&P 500 was down 0.31%, while the Nasdaq Composite slipped 0.27%. Overall investor sentiment remains optimistic, but Sam Stovall, chief investment strategist at CFRA Research, noted that equities have gotten expensive. “The market is getting more and more vulnerable to a market decline or a pullback in prices,” he told CNBC. Follow live market updates.
2. Boeing, Boeing, gone
Boeing CEO Dave Calhoun is attending meetings with Senators on Capitol Hill in Washington, D.C., on January 25, 2024, as Boeing deals with the fallout of multiple recent safety mishaps, including a door blowing out mid-flight.
Aaron Schwartz | Nurphoto | Getty Images
Boeing CEO Dave Calhoun is stepping down at the end of the year as the company deals with a series of quality and manufacturing flaws on its planes. It’s part of a broad management shakeup at the embattled aerospace giant. Boeing also said the chairman of the board, Larry Kellner, will not stand for reelection in May and Stan Deal, president and chief executive of Boeing’s commercial airplanes unit, is out effective immediately. The former CEO of Qualcomm, Steve Mollenkopf, will take Kellner’s role and will lead the board in picking a new CEO. Airlines and regulators have been demanding major changes at Boeing amid the turmoil. Calhoun told CNBC the decision to leave was “100%” his own.
3. McKrispy
Krispy Kreme doughnuts go into production at the opening of the store at Harrods in London, Britain, October, 3, 2003.
David Bebber | Reuters
It’s a match made in American fast food heaven. McDonald’s plans to sell Krispy Kreme donuts at all U.S. locations by the end of 2026. The rollout is set to start later this year but will take some time as Krispy Kreme more than doubles its distribution to satisfy the partnership. The move, which comes after a test at limited locations, bolsters McDonald’s breakfast menu and expands the donut chain’s reach. The restaurants will serve original glazed, chocolate iced with sprinkles and chocolate iced cream-filled doughnuts all day.
4. WeBack?
Adam Neumann, Founder and former CEO of WeWork.
Eduardo Munoz | Reuters
Adam Neumann wants to take his old company out of bankruptcy. The founder and former CEO of WeWork made an unsolicited bid in excess of $500 million to acquire the company. CNBC’s Rohan Goswami reported that the bid could go up to $900 million depending on due diligence, though Neumann’s financing wasn’t immediately clear. Neumann has recently shown a renewed interest in taking back the company he was ousted from five years ago.
5. Bond, Trump’s bond
Former President Donald Trump speaks during a press conference at 40 Wall Street after a pre-trial hearing on March 25, 2024 in New York City.
Michael M. Santiago | Getty Images
Donald Trump got a win in court Monday. A New York appeals court ruled that the former president has 10 days to post a $175 million bond in a massive civil fraud judgment, a drastic reduction from the $454 million (and rising) that was originally due Monday. The ruling means New York Attorney General Letitia James can’t start seizing Trump’s real estate assets and bank accounts. But it doesn’t reduce the size of the judgment in the case; Trump and the other defendants will be on the hook for the full amount if they lose their appeal. Meanwhile, shares of Digital World Acquisition Corp. — which is merging with a Trump-owned social media group — soared 35% after the company said it will start trading under the ticker DJT on Tuesday.
— CNBC’s Lisa Kailai Han, Leslie Josephs, Phil LeBeau, Meghan Reeder, Amelia Lucas, Rohan Goswami and Dan Mangan contributed to this report.
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