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• Boeing CEO Dave Calhoun to step down, and the stock surges
  Shares of Boeing Co. rallied Monday, as the aerospace and defense giant’s...
  Shares of Boeing Co. rallied Monday, as the aerospace and defense giant’s chief executive, Dave Calhoun, said he will step down at the end of the year. The stock BA, 1.20% climbed 4.1%, to pace the S&P 500 index’s SPX premarket gainers.
  
  The company also announced several other management changes. The CEO of its commercial-airplaines business will retire, and the chairman of the board will step down.
  
  “The eyes of the world are on us, and I know that we will come through this moment a better company,” said Calhoun, who became Boeing CEO in January 2020.
  
  Source: MarketWatch
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• Fed’s Goolsbee expects three rate cuts this year
  Chicago Fed President Austan Goolsbee said Monday he now expects three...
  Chicago Fed President Austan Goolsbee said Monday he now expects three quarter-point interest rate cuts this year.
  
  In an interview on Yahoo Finance, Goolsbee wouldn’t discuss when the Fed might start cutting rates. He said he didn’t want to discuss individual meetings. “I don’t like tying our hands or signaling that we’ve made up our minds,” he said.
  
  Last week, the Fed held interest rates steady in a range of 5.25%-5.5%. The median forecast of Fed officials was for three cuts.
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• International News
  The US has urged Ukraine not to strike Russian oil refineries, fearing...
  The US has urged Ukraine not to strike Russian oil refineries, fearing it could drive up prices and prompt retaliation, reports say. Ukraine responded that it wouldn’t stop these attacks, calling the refineries legitimate military targets.
  
  Russia struck an underground gas storage facility in western Ukraine during Sunday’s missile and drone attack, underlining threats to the country’s energy system.
  
  The Iran-backed Houthi terror group struck a Chinese ship amidst its blockade of the Red Sea, despite previously giving assurances that Chinese vessels would be given safe passage. In the early hours of Sunday morning, the Yemeni Houthi militia launched four anti-ship ballistic missiles into the Red Sea in the vicinity of M/V Huang Pu, a Panamanian-flagged, and Chinese-owned and operated oil tanker, US Central Command (Centcom) reported.
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• ☕️What Else is Brewing Monday Morning
  Sam Bankman-Fried will be sentenced in Manhattan on Thursday. The...
  Sam Bankman-Fried will be sentenced in Manhattan on Thursday. The fallen crypto star convicted of fraud will find out just how long his stay in prison will be this week. Criminal sentencing guidelines call for the FTX co-founder to receive a sentence of 100 years, although prosecutors have called for a sentence of 40 to 50 years. SBF sees things much differently, and his lawyers have suggested 6.5 years is enough to ensure their client has learned his lesson after his more than 1 million victims lost more than $10 billion upon the collapse of FTX.
  
  The FAA is looking at ways to curb growth at United Airlines, including limiting its ability to add new routes, following a series of mishaps.
  
  Major League Baseball is investigating the betting scandal surrounding Dodgers superstar Shohei Ohtani and his longtime interpreter Ippei Mizuhara, who was fired amid allegations he stole $4.5 million from Ohtani to cover his gambling losses. Ohtani is expected to publicly address the controversy today.
  
  The Mega Millions jackpot has reached $1.1 billion, which would make it the fifth-biggest prize in its history should someone win it Tuesday.
  
  A Happy Gilmore sequel could be in the works. Christopher McDonald, who played Shooter McGavin, said Adam Sandler recently showed him a first draft of the script.
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• US natgas rig count falls to lowest since January 2022
  U.S. energy firms this week cut the number of natural...

  U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday.

  
  

  The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22, putting the total rig count down 134, or 18%, below this time last year.

  
  

  The number of oil rigs fell by one to 509 this week, while gas rigs decreased by four to 112, their lowest level since mid-January 2022.

  
  

  Most of those gas rig cuts were in the Haynesville shale gas field in Louisiana, Texas, and Arkansas, which fell by four to 36 rigs this week, the lowest since October 2020.

  
  
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