Dow Jones News: Boeing Could Slash Production; Intel Acquires AI Chip Company
With the first phase of a trade deal between the U.S. and China agreed upon, the stock market staged a rally on Monday. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.6% at 1:50 p.m. EST, even as shares of airplane manufacturer Boeing (NYSE: BA) tumbled.
Boeing stock was down following news that the company was reportedly considering reducing or halting production of its 737 Max planes. Meanwhile, shares of chip giant Intel (NASDAQ: INTC) rose with the broader market after the company announced a significant acquisition.
While Boeing has predicted a return to service for the grounded 737 Max as early as January, that outlook doesn't quite mesh with reality. The head of the Federal Aviation Administration recently said in an interview that the plane wouldn't be recertified until sometime in 2020, given the many steps still required to be completed. Now the Wall Street Journal is reporting that Boeing is considering reducing or suspending 737 Max production.
Source Fool.com
