CNBC's "Fast Money"
Asset Moves Ahead Of The Election… And A Tight Boeing Vote On Deck 10/22/24
Oct 22, 2024
Kate Rogers, CNBC reporter, discusses the E. coli outbreak affecting McDonald's while examining its impact on the brand's reputation and stock performance. Rick Santelli shares insights on the influence of interest rates ahead of the elections. Phil LeBeau analyzes the critical Boeing machinist union vote, expressing uncertainty about its outcome. Dr. Kavita Patel underscores the health implications of the outbreak, emphasizing consumer caution. Together, they connect these corporate challenges to broader market trends as the election approaches.
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Quick takeaways
- Concerns about rising deficits and economic instability have led to a surge in gold and silver prices as investors seek safe havens.
- Boeing's upcoming vote on a labor package is crucial for the company's recovery and future production amidst liquidity challenges.
Deep dives
E. Coli Outbreak Impacting McDonald's
An E. coli outbreak linked to McDonald's quarter pounder has resulted in a significant decline in the fast-food chain's stock, dropping nearly 10%. The outbreak has affected 49 people across 10 states, with one reported death and multiple hospitalizations, primarily in Colorado and Nebraska. The CDC suggests that slivered onions are likely the source of contamination, prompting McDonald's to remove the quarter pounder from its menu in impacted areas while continuing to investigate. Analysts draw comparisons to past food safety incidents, noting that recovery and consumer confidence may take a substantial period, affecting the company's financial performance moving forward.
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