Boeing Workers Strike, Risk of Credit Downgrade

Boeing's machinists have gone on strike after rejecting a proposed 25% pay raise, which has led to a halt in production at the company's manufacturing plant. Fitch Ratings has warned that an extended strike could negatively impact Boeing's credit ratings, while S&P Global has echoed concerns that prolonged labor disruption may delay the company's recovery efforts. Boeing's CFO noted that reaching production goals of 38 MAX jets per month by year-end will take longer due to the strike. Shares of Boeing have dropped 3.1% recently and are down nearly 40% for the year. As Boeing faces scrutiny over aircraft safety and financial pressures, the situation is exacerbated by ongoing negative headlines affecting the stock. Meanwhile, mortgage rates are showing signs of improvement, dropping to 6.2%, providing potential relief for homebuyers amidst the economic landscape.