Daily Archive: October 16, 2020

Boeing shares soar after European regulator appears to give the green light to 737 Max

Europe’s top aviation regulator said he’s satisfied that changes to Boeing’s 737 Max have made the plane safe enough to return to the region’s skies before 2020 is out, even as a further upgrade his agency demanded won’t be ready for up to two years.

Boeing shares advanced as much as 2.6% in pre-market U.S. trading. Through Thursday, they had lost half their value this year.

After test flights conducted in September, EASA is performing final document reviews ahead of a draft airworthiness directive it expects to issue next month, said Patrick Ky, executive director of the European Union Aviation Safety Agency.

That will be followed by four weeks of public comment, while the development of a so-called synthetic sensor to add redundancy will take 20 to 24 months, he said. The software-based solution will be required on the larger Max 10 variant before its debut targeted for 2022, and … Read More

Futures climb on vaccine hopes, upbeat retail sales data By Reuters

© Reuters. FILE PHOTO: Wall Street sign is be seen outside the New York Stock Exchange

By Medha Singh and Shivani Kumaresan

(Reuters) – U.S. stock index futures rose on Friday as Pfizer said it could apply for emergency use of its COVID-19 vaccine candidate as early as November and as data showed stronger-than-expected retail sales growth last month.

The drugmaker’s shares (N:) firmed 2.1% in premarket trading as it expects to provide safety data and file for authorization of the vaccine, which it is developing with Germany’s BioNTech SE (F:), as soon as a safety milestone is achieved in the third week of November.

BioNTech’s U.S.-listed shares (O:) jumped 3.4%.

“The markets trade on hopes and promise, and the Pfizer news only aids that narrative even more,” said Jake Dollarhide, chief executive officer at Longbow Asset Management in Tulsa, Oklahoma.

Latest data showed U.S. retail sales increased more than

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