The S&P 500 was 0.3% higher in early trading, coming off its latest record-setting week. The Nasdaq composite was up 0.6%, as of 9:33 a.m. Eastern time, but the Dow Jones Industrial Average was pulling back by 116 points, or 0.3%, from its record set on Friday.
“While clearly welcome, the efforts may be insufficient to spur a new reflationary cycle,” according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.that it expects to report that it burned through $1.3 billion in cash during the latest quarter and lost $9.97 per share. Boeing also said it was laying off 10% of its workforce as it tries to deal with a strike that is crippling production of the company’s best-selling airline planes.
Italy is taking a first group of migrants to Albania aboard a navy ship, a source close to the matter said on Monday, activating a controversial plan to process thousands of asylum-seekers abroad. Giorgia Meloni's government has built two reception centres in Albania, the first such deal involving a European Union nation diverting migrants to a non-EU country in an effort to deter irregular arrivals.
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