Boeing (BA) will top the news headlines after regulators grounded the 737 MAX 9s. They are checking its safety after a plane on an eight-week-old plane on an Alaska Airlines flight lost a door-replacement panel last Friday.
Spirit AeroSystems (SPR) is the aerospace supplier of the plane. Peers in this sector include AeroVironment (AVAV), Bombardier (BDRBF), and Embraer (ERJ).
Advertisers are on watch after Audacy, a radio and podcast firm, said it will file for bankruptcy protection. The firm seeks to cut its total debt from $1.9 billion to $350 million. Investors should watch out for weakness in shares of Digital Turbine (APPS), PubMatic (PUBM), and the Trade Desk (TTD).
In the week ahead, markets will await bank earnings. Wells Fargo (WFC) will post its results on Friday. The firm announced an aggressive stock buyback in July. It also cut staff to lower costs in the last year. WFC stock trades near a 52-week high.
In shipping news, COSCO, a China-based firm, halted its shipping to Israel, according to Israeli media. Other firms like Maersk are diverting around the Red Sea. The threat of Houthi rebels in Yemen is the likely reason for the halt. The news will increase shipping costs, potentially raising the cost of goods. This eventually adds inflationary pressure to the supply chain.
