5 things to know before the stock market opens on Tuesday, January 9


Here are the most important news investors need to start their trading day:

1. Welcome back

Stocks rebounded Monday after a week of losses at the start of the year. The S&P 500 ended its range higher by about 1.4%, while the tech-heavy Nasdaq jumped 2.2%. The Dow Jones improved by only about half a percentage point as a decline in Boeing shares weighed on the blue-chip index. (More about Boeing Below.) This week, investors are thinking about inflation, as the Consumer Price Index and Producer Price Index are scheduled for release on Thursday and Friday, respectively. Earnings season also starts this week: JP Morgan, Citigroup, Wells Fargo, American bank, Delta Airlines And UnitedHealth All report Friday. Follow live market updates.

2. Bad time for Boeing

In this photo released by the National Transportation Safety Board, John Lovell, NTSB investigator in charge, inspects the fuselage connection area of ​​Alaska Airlines Flight 1282 on Sunday, Jan. 7, 2024, in Portland, Oregon.

National Transportation Safety Board via AP

Shares of aircraft maker Boeing fell 8% on Monday, days after a panel exploded on a building Alaska Airlines Mid-flight plane. After the accident, which did not cause any deaths or serious injuries, the Federal Aviation Administration grounded dozens of Boeing 737 Max 9 planes across various airlines and called for inspections. actually, United Airlines It said Monday that it found loose screws in the door seals on several of its Max 9s while performing such checks. Alaska also said it found “disassembled devices” during the checks. Meanwhile, Boeing finds itself under increased scrutiny following recent problems with its planes.

3. “Rare error”

Sam Altman, CEO of OpenAI, at the annual meeting of the Global Hope Forums in Atlanta, Georgia, US, on Monday, December 11, 2023.

Dustin Chambers | Bloomberg | Getty Images

New York times The maker of ChatGPT OpenAI has been sued for copyright infringement over the use of the publication’s materials in training AI technology. ChatGPT response: Nothing to see here. “The training is fair use, but we offer opt-outs because it’s the right thing to do.” MicrosoftThe so-called “regurgitation” of certain content “is a rare bug that we are working to eliminate,” the backed startup said. But the Times isn’t the only one claiming that ChatGPT, which has been growing in popularity since it debuted just over a year ago, is out of business. Authors of both nonfiction and fiction have sued OpenAI for allegedly using their works to train technology without their consent.

4. JetBlue shake

Reuters interviews Robin Hayes, CEO of Jet Blue Airways, at the International Air Transport Association (IATA) Annual General Meeting in Boston, Massachusetts, October 5, 2021.

Brian Snyder | Reuters

While she waits for a federal judge’s decision on the proposed purchase of the discount airline spirit, JetBlue He shuffles his upper ranks. CEO Robin Hayes will step down in February, and will be replaced by chief operating officer Joanna Geraghty, the company said on Monday. Hayes, an industry veteran for more than 30 years, cited the pressures of the job in his ad. “The unusual challenges and pressures of this job have taken their toll and, on the advice of my doctor and after speaking with my wife, it is time to focus more on my health and well-being,” he said. Meanwhile, JetBlue expects a ruling on the Spirit deal — which the Justice Department has challenged over competition concerns — in the coming weeks.

5. CEO Scoops Shane

Jaab Ahrens | norphoto | Getty Images

Shein, the fast-fashion e-commerce company with roots in China, has come under a great deal of scrutiny over environmental concerns and forced labor. Now, as the retail giant seeks to go public in the US, the focus on its financials will intensify. Reports and speculation have pegged Shein’s annual revenues at around $30 billion, but the CEO of one of its partners disputes that number. In fact, he says it’s much more than that. “There are talks that they’re spending $30 billion, are they spending $40 billion? Are they spending $35 billion? I’m not going to tell you exactly what they’re doing, but I can tell you they’re spending a lot more than $30 billion,” Jimmy said. Salter, CEO of privately held brand management firm Authentic Brands Group, said at a retail conference in Orlando. Shein did not immediately respond to CNBC’s request for comment.

CNBC’s Sarah Main, Leslie Josephs, Hayden Field, Sarah Salinas and Gabriel Vonrug contributed to this report.

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