Major US stock indices mixed on Friday morning, with Dow Jones Industrial Average (DJINDICES: ^ DJI) Hold on to a solid advantage. The Dow was up 0.6% at 11:40 am EDT.
In economic news, US inflation rose partially in August due to an increase in used vehicle prices. The Consumer Price Index jumped 1.3% from a year earlier, and was up 0.4% since July. The cost of used cars and trucks increased by 5.4% for a large part of the increase.
Walt disney (NYSE: District) The stock failed to rally on Friday as the company became expensive Mulan The film faces pressure in China. Meanwhile, 787 Dreamliner-related bad news failed to curb stocks Boeing (NYSE: BA) Having a positive day.
Disney faces Mulan Headwinds in china
Disney’s parks business suffered a major setback due to the COVID-19 epidemic, but the company’s film business was also severely disrupted. Disney poured $ 200 million Mulan, A live-action adaptation of his 1998 animated film based on Chinese folklore. In normal times, Mulan Will likely be a smash hit in both the United States and China.
But these are not normal times. With major American movie theater chains recently reopening their doors to guests, they run a standard movie theater Mulan Was not going to work. Disney chose instead to offer Mulan to its Disney + customers in the US for its $ 30 additional fee, with the film set to be available to customers without a fee in December.
This strategy will help Disney recover some of the costs. In China, Disney has released Mulan In theaters, but the controversy surrounding the film may hurt its performance. Social media backlash outside China has called for a boycott over the film being partially filmed in the Xinjiang region Mulan. Inside China, Reuters reported on Thursday that officials have told major media outlets not to cover the film’s release.
All this spoils Disney’s ability to make a profit. Mulan. Disney stock was down slightly since Friday morning. The shares of the entertainment giant have fallen by almost 8% since the beginning of the year.
Another 787 Dreamliner defect found
Last month, Boeing asked airlines to land a small number of 787 Dreamliner jets due to two separate manufacturing issues. A third manufacturing issue was revealed earlier this week concerning the 787’s horizontal stabilizer, although Boeing is not looking to put it at risk.
Late on Thursday, yet another problem with the 787 was revealed when Como News Radio received documents detailing a fourth construction issue with the aircraft, this time related to the vertical tail fin. KOMO reported that excessive gaps could put pressure on the aircraft’s structure over time, potentially posing a safety hazard.
Boeing said in a statement that the issue was discovered in late 2019 and has already been settled in production. The company determined that the problem did not immediately affect safety and did not require immediate action. If action is finally required, KOMO reports that 680 aircraft may be affected.
While these issues may not require extensive grounding of the 787 fleet, they further damage Boeing’s reputation. On top of the problems with the 787, the company is still working with regulators to get the 737 Max back into the air after two fatal accidents.
Boeing shares were up 1.6% as of Friday morning despite 787 news. The stock has fallen by more than 50% so far this year.