>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed higher Monday on Wall Street. The S&P 500 notched a record close, the 30th so far this year. The Nasdaq 100 jumped one-percent to extend its streak of record closes to six sessions. Stocks rallied with big tech boosting market sentiment as investors look ahead to more economic data in the coming days. Microsoft, Meta Platforms and Apple all posted gains of one percent or more. At the closing bell, the Dow Jones Industrial Average gained 188 points to 38-778. The S&P 500 added 41 points to 54-73. The Nasdaq rose 168 points to 17-857.
>>Boeing CEO To Testify Before Senate
(Washington, DC) -- Boeing CEO Dave Calhoun will testify before a Senate committee today where he's expected to apologize for the company's recent safety failures. The hearing before the permanent subcommittee on investigations comes after a door plug blew off of a flight in January and whistleblowers who have raised the alarm over the aircraft maker's safety issues. In prepared remarks released ahead of time, Calhoun apologizes for the failures, including two fatal crashes. But he denies that the company has retaliated against employees who have pulled back the curtain on cutting corners to meet production demand.
>>TikTok Ban Challenge To Be Heard September 16th
(Washington, DC) -- Challenges to a potential TikTok ban will be heard by a U.S. appeals court later this summer. A law passed earlier this year calls for the China-based ByteDance to sell the popular social media app by January 19th or have it banned in the U.S. Oral arguments on legal challenges to the law will be heard on September 16th. A group of TikTok creators filed a lawsuit in May that looks to block the law. ByteDance has also filed a similar lawsuit.
>>McDonald's Pauses AI Ordering At Drive Thrus
(Chicago, IL) -- McDonald's is stopping the pilot for AI-powered drive thru ordering. Tech will be removed from roughly 100 stores at the end of next month, as a two-year partnership with IBM is set to end. The burger giant is one of many to roll out drive up ordering through AI, with White Castle and Wendy's also taking part.
>>Housing Market Shows Signs Of Cooling
(New York, NY) -- More homeowners are listing their homes for sale, but those homes are staying on the market longer. According to Zillow, new listings from home sellers jumped 13-percent in May from a year ago, and the overall number of homes on the market rose 22-percent compared with last year. About 40-percent of homes that were for sale in May had been listed for at least two months without going under contract. Despite the recent jump in supply, housing inventory is still 34-percent below pre-pandemic levels.
>>CA Man Sues Red Lobster On Behalf Of Employees
(Rohnert Park, CA) -- There's new fallout over Red Lobster closures in California. One worker just filed a class-action lawsuit after his location in Sonoma County shut down without warning. He accuses the restaurant chain of violating the state's WARN Act, which requires large companies give 60 days written notice for mass layoffs or closures. George Parker says he's taking action on behalf of all employees throughout the state.
