Morning Business Report: U.S. nears Boeing jet deal with China, markets fall, Spirit furloughs workers

The U.S. ambassador to China says America is in the final stages of a deal to sell as many as 500 Boeing jets to China.

(LILAMAX)- The U.S. ambassador to China says America is in the final stages of a deal to sell as many as 500 Boeing jets to China. Ambassador David Perdue called the agreement the centerpiece of a broader trade package expected to be announced soon.

Markets closed lower on Tuesday, with the Nasdaq posting the steepest losses.

Meanwhile, Spirit Airlines announced it will furlough 1,800 flight attendants as the carrier faces its second bankruptcy filing in a year. This comes on top of 800 attendants who already took voluntary leave.

In the travel sector, a new Apple Vacations survey shows a growing trend called “repeat traveling.” One in three Americans say they prefer returning to the same destination year after year, with many visiting the same spot an average of five times. Travelers also reported spending less — about $1,854 compared to $2,016 when visiting a new location.

NASA also made history Tuesday, naming its newest class of astronaut candidates — with women outnumbering men for the first time. Out of roughly 8,000 applicants, 10 were chosen, including six women. The group includes scientists, pilots, engineers, and ex-military members.

And on Wall Street, Morgan Stanley announced plans to offer crypto trading to retail customers by the first half of 2026. The program will be powered by ZeroHash, a startup backed by the investment bank. The move follows a wider trend of major financial institutions embracing crypto after the U.S. government shifted its stance with the election of President Trump.