Expand chart
Data: Investing.com; Chart: Axios Visuals

Boeing secured commitments of over $12 billion in financing from more than a dozen banks, CNBC reported Monday, citing unnamed sources.

Why it matters: The bailout will help Boeing maintain a healthier cash position as it deals with the fallout from a mandatory production stoppage of its 737 MAX jet after two crashes that killed hundreds of people.

  • However, Boeing's production halt will still be felt by a number of companies that rely on the aviation behemoth.
  • The stoppage also could threaten the overall U.S. economy, experts say.

The big picture: Pantheon Macroeconomics chief economist Ian Shepherdson predicts today's durable goods report will show a 2% year-over-year decline as a result of Boeing's troubles.

  • BofA Global Research revised their second quarter GDP forecast down by 0.4% as a result of Boeing's relaunch for the 737 MAX being pushed back.

Of note: As I wrote two weeks ago, Moody's has warned that Boeing's suspension could hit dozens of companies, identifying 24 with exposure to Boeing and its supply chain and placing four on review for downgrades.

  • One, Spirit Aerosystems, laid off 2,800 employees and had its credit rating downgraded.

Go deeper:

Go deeper

Big Tech marshals a right-leaning army of allies for antitrust fight

Illustration: Eniola Odetunde/Axios

As tech's giants prepare to face off with antitrust enforcers this summer, they will draw support from an array of predominantly right-leaning defenders ranging from influential former government officials to well-connected think tanks.

The big picture: The Justice Department, the Federal Trade Commission and the states have multiple investigations of monopolistic behavior underway targeting Facebook and Google, with other giants like Amazon and Apple also facing rising scrutiny. Many observers expect a lawsuit against Google to land this summer.

John Roberts' long game

Illustration: Sarah Grillo/Axios

Supreme Court Chief Justice John Roberts is not the revolutionary that conservative activists want him to be.

He moves slower than they want, sides with liberals more than they want, and trims his sails in ways they find maddening. But he is still deeply and unmistakably conservative, pulling the law to the right — at his own pace and in his own image.

2 hours ago - Health

The U.S.' new default coronavirus strategy: herd immunity

Illustration: Aïda Amer/Axios

By letting the coronavirus surge through the population with only minimal social distancing measures in place, the U.S. has accidentally become the world’s largest experiment in herd immunity.

Why it matters: Letting the virus spread while minimizing human loss is doable, in theory. But it requires very strict protections for vulnerable people, almost none of which the U.S. has established.