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Boeing strike continues as workers reject contract offer


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Boeing strike continues as workers reject contract offer
Stocks on Wall Street closed mixed today, with the Dow Jones Industrial Average dropping 140 points, approximately a third of a percent. In contrast, the Nasdaq gained nearly 140 points, while the S&P 500 managed to break a three-session losing streak, adding about 12 points.

In a celebratory event, New York honored the WNBA champions, the New York Liberty, with a ticker tape parade down Manhattan's Canyon of Heroes. The team, led by Series MVP Jonquel Jones, secured their first championship title in a thrilling overtime victory against the Minnesota Lynx in Game 5 of the finals. This marks only the third time a women's sports team has been celebrated with a ticker tape parade in the city, following similar honors for the U.S. women's national soccer team in 2015 and 2019.

In labor news, Boeing's ongoing strike, now in its sixth week, shows no signs of resolution after workers overwhelmingly rejected the company's latest contract offer by 64%. The rejected proposal included a 35% wage increase over four years and a $7,000 signing bonus, which fell short of the union's initial demand for a 40% raise. A key sticking point remains Boeing's refusal to reinstate a traditional pension plan, which was eliminated a decade ago. Union leaders have vowed to continue pressuring the company for a more favorable contract, as the strike contributes to a significant backlog of orders for the aerospace giant.

Boeing recently reported a staggering $6 billion loss in its third-quarter revenue, highlighting ongoing challenges that have plagued the company since the 737 MAX incidents in 2017. As the strike continues, workers express concerns over rising living costs in the Seattle area, which have outpaced their annual raises and cost-of-living adjustments.

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