In today’s “Futures in Focus,” Todd Horwitz, chief strategist at Bubba Trading, and Bloomberg’s Vonnie Quinn examine the impact of OPEC and the U.S. dollar on the oil market. They speak on “Bloomberg Markets.”
Archives for May 31, 2017
Stocks take a breather after a run of records as traders digest economic data
The bulls are trying to catch their breath after the stock market’s string of records. Stocks started the week mixed as investors weigh a fresh batch of economic data after the Memorial Day weekend.
Meanwhile, oil prices are lower on concerns that production cuts will not be enough to reduce the global supply glut. Yahoo Finance’s Alexis Christoforous, Andy Serwer and Seana Smith discuss the day’s top stories.
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United Facing $435,000 Fine Over Operating Flights With Unfit Plane
The U.S. Federal Aviation Administration on Tuesday proposed fining United Airlines (UAL) $435,000 for operating 23 flights in 2014 using a Boeing (BA) 787 that the government claims was not in a condition to fly, according to Reuters.
The FAA alleged that in June 2014, United mechanics replaced a fuel pump pressure switch on the aircraft but failed to perform a required inspection before returning the aircraft to service.
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“The safety of our customers and employees is our top priority. We immediately took action after identifying the issue and are working closely with the FAA in their review,” a United spokesman said.
Shares of United closed lower nearly 2.5% on Tuesday.