This is ktvu, fox two news at six. Hello again everyone. Im julie hanan and im mike mibach. We begin tonight with boeing. A that the company failed 33 of 89 audits during an faa examination. The six week audit was conducted after a panel blew off an Alaska Airlines 737 max jet on january fifth. This also comes after the New York Times reported that the plane involved in that case was scheduled to undergo maintenance the very next day. Ktvu tom vacar has the story. The federal Aviation Administration says boeing failed 33 of 89 audits of its manufacturing and Quality Control processes. Its doorc plg supplier for the device that blew out on january 5th failed seven of 13 audits. Well, thats a very high failure rate, International Aviation attorney mary schiavo is the former turn oversees boeing and the airline industry. They also have to see that boeing is doing all of the assembly precise. So, you know, steps and procedures that are approved, plug was installed is missing or never exist
More downgrades. This time not on the sovereign but u. S. Banks, 10 downgrades overnight. Tom there is a bank story in italy as well. That is the economic thing to look at. Overwhelming everything here this morning led by the news out of china is it is deflation tuesday. Im looking at the screen and i have not seen that screen in 4, 5, six years. Jonathan dreadful. Tom we were out in front of the story, there is deflation in the air. I can bore you with eight ways, all you have to do is say even oil breaks down. Jonathan every time i get data out of china, it is downside surprise. Lisa one interesting area, the divergence between the u. S. And china has been accelerating. What you have seen with respect to the u. S. Dependence on china is it is decreasing even though in europe it is not. I wonder how much those stories are linked. The underperformance of germany and the outperformance of the United States. Tom the banks have to deal with this disinflationary, deflation tendency. You go
Lauren goodwin, senior director of multiasset mfrl strategy. Lauren, good to see you. Good to be here thanks for having me, mike want to go back to just about a month ago right before the previous cpi report, right july 12th. The s p 500 within 1 of where it is right now and the 10year treasury yield at 4 where it is right now. When we got it, it was a bit of a kickstart for the late july rally and now weve given it back what is the status right now in your mind of the landing and the economic scenario and how much of that the market can benefit from or potentially have the market learned pretty good information from the last Inflation Report from june that we saw in july which was the disinflationary process has moved from an early stage to a more stable one and that is one where the fed is not done hiking and investors can be excited about the potential for a soft landing. I think its a little bit of a false start because until unemployment claims start durably rising, that narrative
The Deadly Wildfires devastating maui has now killed at least 36 people. Their bodies discovered in the ruins of the raging inferno. Officials held a News Conference just a short time ago. Primary focus is to save lives. Prevent Human Suffering and mitigate property loss. That is what the counties were and are doing. What we do anticipate is additional requests and were already providing support for trying to get the communications back up, water distribution. Were hearing they may need more Law Enforcement official for federal and state Law Enforcement. So were working through that. The damage to the infrastructure, it is not just buildings, i mean these were Small Businesses that invested in maui. These were local residents and we need to figure out a way to help a lot of people in the next several years. School was destroyed. Many of the businesses, a church was destroyed. It will take years. Devastation was most serious in the town of lahaina, a tourist and economic hub with 9,000
A big moment unfolding this hour. Donald trumps legal team in front of the judge presiding over the 2020 election case for the first time. Whats shes going to say about how much evidence will be talked about in public. And will she give any indication on when this trial is going to kick off. Maui being described as an apocalyptic devastation from the wildfire. Some residents say they had no warning that it was time to get out. I sat up on top of the roof, and i battled the fire for about three hours. I couldnt do it anymore. And then i said, i have to move. And then i ran to the ocean. I gave in. So you literally saved yourself by jumping into the ocean . Yes. When you turned around and looked back, whatd you see . Devastation, everything gone. Moments ago, former president Donald Trumps lawyers arrived to Federal Court in washington. Its a big day for them and for the Special Counsel as this is the first hearing in the 2020 Election Subversion Case against trump, and the first time th