US Stocks had their worst week since June last week with the NASDAQ suffering the biggest loss from a shift out of the big tech names into more cyclical value stocks.
The Federal Aviation Administration is reviewing quality-control lapses at Boeing that could stretch back almost a decade. The review piles onto the numerous regulatory issues Boeing has faced in the wake of two crashes involving its 737 Max planes that killed all 346 people onboard the two flights. Since then, Boeing has faced renewed scrutiny over its safety standards and manufacturing protocols as well as a deluge of questions from both regulators and lawmakers. Its 737 Max planes remain grounded. Shares of Boeing are lower on the news.
Samsung Electronics won a $6.6 billion order to provide fifth-generation wireless solutions to Verizon Communications in the U.S., a big win for the electronics giant’s networking gear business. The contract was finalized over the weekend and is valid through December 2025. The deal marks one of Samsung’s biggest 5G contracts since Korea’s largest corporation decided years ago to invest in networking and compete with global players.
With Northwest Quadrant Wealth Management, I’m Tyler Simones.