Good morning! Boeing machinists reject contract and extend strike, American Airlines faces frustration over boarding, and 30-year mortgage rates rise, pressuring homebuyers.

BUSINESS

Boeing Machinists Reject Contract

Boeing machinists have rejected a proposed contract, choosing to continue their strike over pay and job security concerns. The ongoing strike could impact Boeing's operations and supply chains as negotiations remain unresolved.

Here's the breakdown:

• Boeing machinists voted to reject the latest contract proposal, continuing their strike.

• Workers are demanding better pay, benefits, and job security from the aerospace company.

• The strike poses potential disruptions to Boeing's production and supply chain operations.

• Negotiations between Boeing and the union have yet to reach a resolution on key issues.

• The machinists' strike is part of a larger trend of labor actions in various industries across the U.S.

FEATURED

BUSINESS

American Airlines Faces Passenger Frustrations

American Airlines is facing increasing complaints from passengers about its boarding process, specifically over congestion at gates, referred to as "gate lice." Passengers have expressed dissatisfaction with boarding inefficiencies, prompting discussions about potential changes.

Here's the breakdown:

• American Airlines passengers are frustrated with boarding congestion, commonly called "gate lice."

• Complaints focus on the inefficiencies of boarding, causing crowded and chaotic conditions at gates.

• The term "gate lice" refers to passengers crowding the gate area before boarding begins.

• Passengers have called for changes to improve the boarding experience and reduce frustration.

• American Airlines is facing pressure to reassess its boarding procedures and enhance efficiency.

ECONOMY

30-Year Mortgage Rates Rise

The average rate for a 30-year fixed mortgage has increased to its highest point in three months, placing additional pressure on homebuyers already facing affordability challenges. Higher mortgage rates continue to deter potential buyers and impact the housing market.

Here's the breakdown:

• The 30-year fixed mortgage rate has surged to its highest level in three months, challenging homebuyers.

• Rising mortgage rates are compounding affordability issues, making homeownership less attainable for many.

• Potential buyers are being priced out of the market as monthly mortgage payments increase.

• The housing market has slowed as elevated rates deter buyers and reduce demand for homes.

• Analysts warn that sustained high rates may continue to impact home sales and economic growth.

APPENDIX

• Polymarket, a prediction platform, faces scrutiny over its listing of a bet involving Trump and the French election. CNBC

• The FDA is investigating an E. coli outbreak potentially linked to onions used in McDonald’s products. NBC News

• Apple hinted at upcoming new Mac products, with details expected in a series of announcements starting next week. Engadget

• A "city-killer" asteroid is approaching Earth, raising concerns about its potential impact if it veers off its projected course. NY Post

• NASA and SpaceX are preparing for the splashdown of Crew-8 astronauts, marking the end of a successful mission. Newsweek

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