Posted on 11/11/19
| News Source: FOX Business
The company, in a statement to FOX Business, confirmed that "it is possible that the resumption of MAX deliveries to airline customers could begin in December..." contingent on various timetables with the FAA.
The S&P 500 and the Nasdaq held onto modest losses amid concerns the U.S. and China still have differences that need to be ironed out before the two sides reach a phase one trade deal.
“China very much wants to make a deal,” Trump said as he boarded Air Force One on Saturday. “They’re having the worst year they’ve had in 57 years. Their supply chain is all broken, like an egg, they want to make a deal, perhaps they have to make a deal, I don’t know, I don’t care, that’s up to them.”
On Friday, the president said, contrary to reports, that he has not agreed to roll back tariffs if a phase one trade deal were reached.
"They'd like to have a rollback," Trump told reporters at the White House. "I haven't agreed to anything."
The S&P 500 and Nasdaq continue to trade near record levels despite Monday's drop. The next record-high close for the S&P 500 will be the 100th while Trump has been in office, according to Dow Jones Market Data.
Alibaba shares were lower despite the e-commerce giant breaking its sales record for Singles Day. The company says gross merchandise volume reached 268.4 billion yuan ($38.4 billion) on Monday, eclipsing last year's record.
Walgreens Boots Alliance shares were higher after Bloomberg reported private-equity firm KKR has approached it about a go-private deal. With a market capitalization of nearly $53 billion, a Walgreens leveraged buyout would be the biggest in history.
Tesla was gained ground after unveiling the first cars made at its Shanghai Gigafactory. Also providing a boost was an analyst at the investment bank Jefferies raising their price target by 33 percent to $400 due to strong margins.
Sprint fell after it was reported that CEO John Legere is in talks to replace WeWork co-founder Adam Neumann as CEO.