CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Phil LeBeau gets a seat on the very first 737 Max commercial flight in nearly two years, after fatal crashes led to a worldwide grounding. Plus, CNBC's Contessa Brewer breaks down the rising demand, but falling capacity at ski resorts this winter.
Stocks close lower after hitting record highs, Dow and S&P 500 snap 3-day winning streak
Stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress.
The Dow Jones Industrial Average closed 68.30 points lower, or 0.2%, at 30,335.67. The S&P 500 dipped 0.2% to 3,727.04, and the Nasdaq Composite fell by 0.4% to 12,850.22. Tuesday's decline snapped a three-day winning streak for both the Dow and S&P 500.
All three of the major averages hit record highs at the open. At its session high, the Dow was up more than 100 points.
MIAMI — The first U.S. commercial flight of Boeing's 737 Max since two deadly crashes prompted a worldwide grounding of the planes in March 2019 took off on Tuesday.
American Airlines Flight 718 departed Miami International Airport at 10:40 a.m. for New York's LaGuardia Airport, where it landed at 1:08 p.m., slightly ahead of schedule.
"We're flying on a Boeing 737 Max," Capt. Sean Roskey announced over the plane's PA system before the plane pushed back from the gate in Miami, to some applause from passengers, which included American Airlines' president, some commuting crew and other employees. "We have the utmost confidence in this aircraft. As a matter of fact, my wife is on board."
Senate Majority Leader Mitch McConnell on Tuesday blocked Senate Minority Leader Chuck Schumer's attempt to unanimously pass a bill to increase direct payments in the year-end coronavirus relief package to $2,000.
The Kentucky Republican later Tuesday introduced a bill that would boost the size of the checks to $2,000 from $600, repeal Section 230 legal liability protections for internet platforms and create a commission to study election issues. The bill would meet all of President Donald Trump's recent demands, which are unrelated, but would not get Democratic support and become law.
Through the bill, Republicans would both avoid the act of actually passing $2,000 payments but allow GOP senators running for reelection in Georgia's Jan. 5 runoffs to express support for Trump's priorities.