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On September 18th, European stocks generally opened higher, with the German DAX index rising over 1% and the Euro Stoxx 50 index rising nearly 1%. French, Spanish, and Italian stock markets also saw gains. Meanwhile, US stock index futures also rose, with S&P 500 futures up 0.5%. Investinglive, a well-known financial website, commented that the Federal Reserves interest rate decision on Wednesday wasnt overly dovish, but overall, it still offered some positive news for risky assets. As is often the case with the stock market, bargain hunters will, in one way or another, shift the market narrative in their favor. The key now lies in US data proving that the dovish market pricing in October and December was misplaced.Hong Kong stocks rebounded slightly, with the Hang Seng Tech Index narrowing its decline to less than 1%, after falling 2.5% earlier; the Hang Seng Index is now down 1.27%, while Pop Mart (09992.HK) bucked the trend and rose by more than 4%.Hungarian State Secretary for Energy: Hungary has not changed its position on accelerating the phase-out of Russian oil and gas.Germanys DAX index rose 1.00% on the day.Deutsche Bank CFO: Loan and advisory businesses will recover in the second half of this year.

Boeing's MAX certification delay is supported

Charlie Brooks

Oct 20, 2022 14:24

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Boeing (NYSE:BA) Co. received support from a Republican senator and a major customer on Wednesday to ask Congress to extend the certification deadline for two new 737 MAX models.


The U.S. aircraft manufacturer says the FAA must certify the MAX 7 and MAX 10 by December. After that date, all FAA-certified aircraft must have contemporary cockpit alerting systems, which would postpone the deployment of the new MAX aircraft unless Congress grants a waiver.


Republican senator Lindsey Graham told Reuters he supports tying a MAX deadline waiver to a budget package or other measures.


Graham said on the sidelines, "We will fight as hard as we can to give Boeing the opportunity to establish that the plane works and that it does operate."


Congress passed the measures in late 2020 as part of FAA certification modifications after two 737 MAX crashes killed 346 people and grounded the best-selling aircraft for 20 months.


On Wednesday, United Airlines CEO Scott Kirby (NYSE:KEX) endorsed the extension, saying a universal 737 alerting system makes sense. "It's appropriate safety," Kirby told CNBC. "Changing the cockpit is dangerous."


2017 United bought 100 MAX 10s. Kirby said United will convert some orders to MAX 8 and 9 planes and buy additional Airbus 321s without an extension, hurting Boeing's U.S. jobs.


Kirby remarked, "We should all be Boeing fans," citing the company's economic and export benefits.


This month, Senator Roger Wicker failed to attach a restriction extension through September 2024 to a defense deal.


Southwest Airlines (NYSE:LUV) pilots support the proposal, while American Airlines pilots oppose it.


C.B. "Sully" Sullenberger, a commercial pilot who famously landed an Airbus A320 on New York's Hudson (NYSE:HUD) River after hitting a flock of geese, and many MAX crash victims' families are also opposed. "The FAA must require modern crew warning systems," Sullenberger said Friday.


Even with a waiver, MAX planes may not fly for a while.


In an Oct. 12 letter, the FAA stated some crucial material Boeing filed in the agency's ongoing investigation of the MAX 7 is incomplete, and Boeing doesn't expect approval for the MAX 10 until next summer.

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