Author Bio
Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials. When not arguing on Twitter or writing about the markets, Lou spends his free time out in nature, complaining online about the Baltimore Orioles or Watford FC, or listening to early 1990s alt rock.
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The U.S. military is in the market for a new propeller-powered attack aircraft. That could mean a big payday for one of five under-the-radar contractors set to battle it out for the contract.
By Caitlin Ostroff U.S. stocks opened lower Monday, as rising bond yields prompted concern that technology shares are looking too expensive. The Dow Jones Industrial Average fell 198 points, or 0.6%, shortly after the opening bell. The S&P 500 dropped 0.4% and the Nasdaq Composite declined 1.4%. Investors bets on an economic rebound later in the year have contributed to a selloff in U.S. government bonds in recent weeks. Declining bond prices result in rising yields, which have stoked concern that highflying stocks are starting to look less attractive than assets considered to be risk free. As the yield goes up, there is more demand for [government bonds] in relation to other assets, said Hani Redha, a portfolio manager at PineBridge Investments. How much are you willing to pay for stocks? If you re only getting a very low yield from bonds, you should be willing to pay a higher amount for stocks. But that starts to change when bond yields go up.
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Boeing said it supports the decision by Japan s civil aviation authority and the US transportation agency to suspend all wide body 777 models equipped with Pratt & Whitney 4000-112 engines after debris fell from United Airlines Flight. While the NTSB investigation is ongoing, we recommended suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 engines until the Federal Aviation Administration (FAA) identifies the appropriate inspection protocol, it said in a statement late Sunday. We are working with these regulators as they take actions while these planes are on the ground and further inspections are conducted by Pratt & Whitney.