🛩 Trouble for Boeing

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Cool fact: The S&P 500 has reached 28 all-time highs this year and is up 14%.

Today we cover:

• What to expect this week.

• Rate cut in December?

• Boeing and problems.

📊 Economy and News 

What’s happening this week

Investors seeking to gauge the robustness of the U.S. economy and anticipate the timing of Federal Reserve rate cuts—which are now projected to occur no sooner than September—will closely analyze Tuesday's retail sales data for May.

Economists predict a 0.3% increase in retail sales, following an unexpected stagnation in April.

Additionally, investors will hear from several Federal Reserve officials this week, including New York Fed President John Williams, Minneapolis Fed President Neel Kashkari, San Francisco Fed President Mary Daly, and Richmond Fed President Thomas Barkin.

On Thursday, the Bank of England will hold its latest policy meeting, likely disappointing any Conservative party hopes for a rate cut before the July 4 election. The market currently anticipates easing later in the year, with approximately a 40% probability of a quarter-point reduction in August and a 70% chance in September, as wage and service inflation remain high.

Meanwhile, on Friday, the Eurozone will release the latest purchasing manager indexes for June. Market observers will be looking for indicators of growing momentum in the region's economic recovery.

Global hits:

• Cocoa prices are soaring.

• Conditions for rate cut emerging in South Korea, says presidential official.

• Markets fear the French far right could trigger a financial crisis.

What’s coming from China: China is set to release a substantial amount of economic data this week, as investors seek indications of momentum in the recovery of the world's second-largest economy. The ongoing struggles in the property sector continue to cast a shadow over the outlook.

Monday will see the release of data on China's home prices, the first since Beijing announced "historic" measures to stabilize the property market last month, which have had limited impact so far. Additionally, data for May on industrial output, the urban unemployment rate, and retail sales will be released, with particular attention on retail sales following April's disappointing figures.

Despite these data releases, recent indicators highlight the ongoing need for further stimulus from policymakers, with a loan prime rate decision expected on Thursday.

Compounding these challenges are deteriorating trade relations, as Europe prepares to impose additional duties on imported Chinese electric cars.

📈 Stocks

S&P 500 5,431.60 (-0.039%)
DJIA 38,589.16 (-0.15%)
NASDAQ 17,688.88 (+0.12%)
BRENT CRUDE 82.63 (-0.02%)
* Prices as of Jun 16th, 12:20 AM UTC

More Boeing problems

Titanium distributed with falsified documentation has been found in commercial Boeing and Airbus jets, prompting an investigation by the Federal Aviation Administration (FAA), the aircraft manufacturers, and supplier Spirit AeroSystems to assess potential safety risks.

This issue, first reported by the New York Times on Friday, adds to a series of quality and safety concerns that have recently plagued the aerospace industry. According to the Times, the investigation was initiated after small holes, likely caused by corrosion, were discovered in the material.

Both the FAA and Boeing have confirmed the investigation. Boeing noted that the suspect parts originate from a limited number of suppliers and that tests conducted so far confirm the use of the correct titanium alloy.

“To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely,” Boeing stated.

However, Boeing faces additional challenges. Federal authorities and Boeing are investigating an unusual and unsafe back-and-forth roll experienced by a 737 Max 8 during flight. The aircraft has not flown since landing in Oakland, California, following the incident, except for a transfer to a Boeing facility in Washington state.

The incident, which occurred nearly three weeks ago, was recently added to an FAA database. This latest setback contributes to Boeing's struggles, with its stock down 29.59% year-to-date and no positive developments in recent months.

In other news, Boeing and NASA have delayed Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft.

💵 Personal Finance

You can train AI tools to make money

Do you know it is possible to earn money training AI tools with some platforms offering over $80 per hour for your services?

Called data annotation, it is the process of labeling individual elements of training data (whether text, images, audio, or video) to help machines understand what exactly is in it and what is important. This annotated data is then used for model training.

If you ever wonder how AI is able to do its job so well, it’s because there are thousands of people training it. You can be that person as well. Platforms like Appen, Labellerr, DataLoop, and RemoTasks are on the lookout for talented individuals for these jobs.

In most cases, you don’t even need experience to get a good job. But, higher paying jobs usually require skills. Coders, for example, earn between $50 and $80 per hour.

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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