What's moving markets todayBy CNN Business
6:28 p.m. ET, March 14, 2019
- Tesla (TSLA) is about to reveal its Model Y design, a new SUV that will be priced similar to the Model 3.
- The car could be even more instrumental than the Model 3 for Tesla's efforts to morph into a mass market car manufacturer. SUVs are more popular than sedans among American consumers.
- The event comes after the company announced earlier this week that prices for most models worldwide would go up by about 3%, after it decided to keep more stores open than previously planned.
- Boeing (BA) shares are flat in premarket trading following a turbulent few days.
- The plane maker's stock staged a late recovery on Wednesday, ending the day 0.5% higher even after the US became the latest country to ground its 737 Max jets.
- The stock fell as much as 3% in afternoon trading after President Trump announced the US ban on the 737 Max 8 and Max 9.
- Despite Wednesday's recovery, Boeing's stock has fallen 10% since the crash, wiping more than $25 billion off the company's market value.
- Johnson & Johnson (JNJ) shares are down 1% in Thursday trading.
- A California jury ordered the company to pay $29 million to a woman who said that asbestos in its talcum-powder-based products gave her cancer.
- The company has been grappling with lawsuits alleging some of its talcum powder products caused cancer
- J&J has previously said its baby powder is "safe and asbestos-free."
- Facebook's (FB) stock fell nearly 2% in trading following a massive outage.
- New: The company apologized for the outage and blamed it on a "server configuration change." Read the full statement here.
- Some users weren't able to access Facebook and other platforms owned by the company, including Instagram, Messenger and WhatsApp for at least 14 hours.
- It's believed to be the social network's biggest-ever interruption.
- The disruption is likely to upset advertisers that spend large amounts of money to reach potential customers on Facebook platforms.
Chinese stocks fell today after more data suggested its economy got off to a rocky start this year:
- The Shanghai Composite closed down 1.2% after official statistics showed that China's huge industrial sector had its weakest rate of growth in 17 years.