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Speaker 2: News when you want it with Bloomberg News Now. I'm
Speaker 2: Amy Morris. This just crossing the Bloomberg terminal. Boeing says
Speaker 2: it plans to cut its workforce by about ten percent,
Speaker 2: responding to the crisis facing the plane maker as it
Speaker 2: faces a drawn out strike by workers and a worsening
Speaker 2: cash crunch. Bloomberg Intelligence Senior Aerospace, Defense and Airlines analyst
Speaker 2: George Ferguson.
Speaker 3: Tough times are a head and that's what CEO Kelly
Speaker 3: or Berg told the company when he told him there's
Speaker 3: going to be a ten percent cut. Tightening their belt here.
Speaker 3: It looks to me like they're posturing for the long haul,
Speaker 3: right they tell them to me, I think they're telling
Speaker 3: the union, you know, we're going to slim down were
Speaker 3: we need to save a bunch of money and we're
Speaker 3: ready to kind of go to long haul on our
Speaker 3: negotiations with you. We're going to take pain on the
Speaker 3: executive side as well.
Speaker 2: Roughly seventeen thousand jobs will be affected. That's about ten
Speaker 2: percent of its workforce, including executives, managers, and employees. The
Speaker 2: company also announcing that first delivery Boeing's already delaid seven
Speaker 2: seven seven X aircraft will now happen in twenty twenty six.
Speaker 2: Boeing shares now down more than two percent in the
Speaker 2: post market, and we bring you closing numbers each day
Speaker 2: here at Bloomberg. The Dow up four hundred and ten points,
Speaker 2: that's a record close, NASDAK up sixty one points in
Speaker 2: the s and P five hundred up thirty five, also
Speaker 2: an all time high. The US is expanding its sanctions
Speaker 2: on Iran's oil and petrochemicals sectors in response to the
Speaker 2: country's October first ballistic missile attack on Israel. The move
Speaker 2: gives the Department the ability to target a broader range
Speaker 2: of activities related to the trade in the future. That's
Speaker 2: according to the Treasury Department. The US is sanctioning seventeen
Speaker 2: ships in ten entities that have been involved in shipping
Speaker 2: Iranian oil and petrochemicals. Now, Israel has yet to decide
Speaker 2: how to retaliate against that attack last week. That's according
Speaker 2: to an Israeli official, and Israel remains under pressure from
Speaker 2: the US and others to limit the severity of its response.
Speaker 2: Yesterday's Security Cabinet meeting ended without a decision on what
Speaker 2: the response should be, and it's not clear if there
Speaker 2: are divisions within Prime Minister Benjamin Netanyahu's coalition government or
Speaker 2: if they're just biding their time. Elon Musk's unveiling of
Speaker 2: self driving taxi prototypes let down some Tesla investors. Many
Speaker 2: were expecting more particulars on how the carmaker can possibly
Speaker 2: pull off his latest robocar predictions. The Tesla chief executive
Speaker 2: officer unveiled a slick two seat sadan called a Cybercab
Speaker 2: late yesterday, saying that production may start in twenty twenty
Speaker 2: six and that the vehicle would cost less than thirty
Speaker 2: thousand dollars more details now with Bloomberg's CREGUPDA.
Speaker 4: The timing is also another kind of volatile factor here,
Speaker 4: because yes, there are plenty of unveilings coming out of Tesla,
Speaker 4: but Elon Musk and his design team has a history
Speaker 4: of going far past the timeline that they suggest. If
Speaker 4: he's talking about two short years, there's a lot of
Speaker 4: questions about, well, can you actually get to those two years?
Speaker 2: Bloomberg's Creedy Gupta. Tesla shares fell eight point eight percent
Speaker 2: in the regular session. US consumer sentiment unexpectedly fell for
Speaker 2: the first time in three months. The preliminary October Sentiment
Speaker 2: index declined to sixty eight point nine from seventy point
Speaker 2: one in September. It's according to the University of Michigan.
Speaker 2: The median estimate and a Bloomberg survey of economists called
Speaker 2: for a reading of seventy one. And banks reported earnings today,
Speaker 2: black Rock pulling in a record two hundred and twenty
Speaker 2: one billion dollars of total client cash last quarter, pushing
Speaker 2: the world's largest money manager into an all time high
Speaker 2: of eleven and a half trillion dollars of assets as
Speaker 2: it seeks to become a one stop shop for stocks, bonds,
Speaker 2: and increasingly private assets. The firmatted two point four trillion
Speaker 2: dollars to its total assets over the past twelve months,
Speaker 2: and Black Rock shares gained three point six percent in
Speaker 2: the regular session. JP Morgan Chase kicked off bank earning
Speaker 2: strong with a surprise gain and net interest income, even
Speaker 2: raising its forecast despite the FED cutting interest rates. JP
Speaker 2: Morgan's Wall Street businesses also topped estimates. JP Morgan shares
Speaker 2: gained four point four percent in the regular session, closing
Speaker 2: up the most in about eighteen months. Wells Fargo shares
Speaker 2: rose after this morning's opening bell after a surgeon investment
Speaker 2: banking fees helped counter a dip in lending revenue as
Speaker 2: interest rates fall. Shares of Wells Fargo gained five point
Speaker 2: six percent in the regular session. President Biden says the
Speaker 2: damage from Hurricane Milton alone could be around fifty billion dollars.
Speaker 2: He's preparing to see the devastation for himself firsthand when
Speaker 2: he goes to Florida this weekend. The President's traveling there
Speaker 2: on Sunday. Major League Baseball has moved the start time
Speaker 2: of tomorrow's decisive Game five of the Al Division series
Speaker 2: between Detroit and Cleveland from a night game to an
Speaker 2: afternoon game because of a chance of inclement. Whether that
Speaker 2: game will now be played at one oh eight pm
Speaker 2: on Saturday. And that's news when you want it. With
Speaker 2: Bloomberg News Now, I Amy Morris and this is Bloomberg