Tag: Breaking News: Markets

Airspace closures on 14 th April throughout the Middle East ground, divert flights as Iran launches drone attack on Israel

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Airspace closures in the Middle East on April 14th, 2024, disrupted flight operations as Iran launched drone strikes towards Israel. Multiple airlines, including United Airlines, Delta, American Airlines, Emirates, Air France, British Airways, and Lufthansa, responded by canceling or diverting flights to ensure passenger safety. The closures and flight disruptions underscored the tense situation in the region and the impact on air travel. [ad_1] Flightradar24 over the Middle East on April 14th, 2024 after Iran launched drone strikes towards Israel. Source: Flightradar24 Airspace closures through the Middle East grounded and…

Wholesale prices rose 0.2% in March, less than expected

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[ad_1] A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February, according to a release Thursday from the Labor Department’s Bureau of Labor Statistics. However, on a 12-month basis, the PPI climbed 2.1%, the biggest gain since April 2023, indicating pipeline pressures…

Hot inflation data pushes market’s rate cut expectations to September

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[ad_1] Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. Michael M. Santiago | Getty Images As recently as January, investors had high hopes that the Federal Reserve was about to embark on a rate-cutting campaign that would reverse some of the most aggressive policy tightening in decades. Three months of inflation data have brought those expectations back down to earth. March’s consumer price index report Wednesday helped verify worries that inflation is proving stickier than thought,…

Spirit Airlines will defer Airbus orders, furlough 260 pilots in race to shore up liquidity

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[ad_1] A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on February 12, 2024 in Austin, Texas.  Brandon Bell | Getty Images Spirit Airlines said Monday that it will defer deliveries of new Airbus planes and furlough about 260 pilots as it tries to boost liquidity. “Of course, these steps aren’t ones we want to take but they’re necessary to ensure a strong and profitable future for Spirit,” CEO Ted Christie said in a note to staff Monday. Spirit said it will defer all…

Boeing CEO Calhoun took home $5 million last year, compensation package hit by Max crisis

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[ad_1] Boeing CEO Dave Calhoun speaks with reporters on Capitol Hill in Washington, D.C., before meeting with a group of senators on Jan. 24, 2024. Jim Watson | AFP | Getty Images Outgoing Boeing CEO Dave Calhoun’s take-home pay fell to $5 million last year after declining a bonus, compared with $7 million in 2022, and his latest compensation package is taking a hit from the prolonged safety crisis surrounding the company’s best-selling jetliner, the 737 Max. Calhoun’s total compensation last year rose 45% to $32.8 million, up from $22.6…

Fed's Kashkari raises prospect of zero rate cuts — but Goldman says that would be 'very surprising'

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Fed’s Kashkari, the Minneapolis Federal Reserve President, recently suggested the possibility of zero rate cuts this year if inflation remains steady. Despite this, Goldman Sachs’ Chief Economist Jan Hatzius maintains his expectation of three interest rate cuts in 2024. Market watchers await Friday’s U.S. jobs data for additional insights into inflation and the labor market. [ad_1] Minneapolis Federal Reserve President Neel Kashkari. John Lamparski | Getty Images Entertainment | Getty Images Goldman Sachs Chief Economist Jan Hatzius on Friday said that he still expects the Federal Reserve to implement three…

10-year Treasury yield rises slightly as bets on June rate cuts cool down

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[ad_1] The 10-year Treasury note yield rose slightly Tuesday, adding to its gains from the previous session, as traders reassessed the possibility of the Federal Reserve cutting rates in June. The benchmark rate was up nearly 2 basis points at 4.347%, trading at the highest in two weeks and almost the highest levels of the year. The 2-year Treasury note yield was just below flat at 4.714%. Yields and prices move in opposite directions, and one basis point equals 0.01%. The moves come after manufacturing in the U.S. expanded for…

Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

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Trump Media, the company behind the Truth Social app linked to former President Donald Trump, reports a significant net loss in 2023, leading to a sharp decline in share price. Despite high market capitalization, financial filings reveal ongoing operating losses and internal control weaknesses, raising concerns about the company’s future viability and unique risks associated with Trump’s involvement. [ad_1] This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Stefani…

USA Treasury yields search for direction after the long weekend

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USA Treasury yields saw minimal movement early on Monday after the extended Easter weekend, with the 10-year yield remaining flat while the 2-year yield dipped slightly. Investors are responding to the latest data on inflation, which indicates that the Federal Reserve may delay interest rate cuts. Analysts have varying opinions on the Fed’s future actions, with some forecasting no rate cuts this year and others anticipating more decisive measures. This week’s market focus will be on USA Treasury auctions, ISM manufacturing data, construction spending figures, and the upcoming March jobs…

Key Fed inflation gauge rose 2.8% annually in February, as expected

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[ad_1] Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer. The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, the Commerce Department reported Friday. Both numbers matched the Dow Jones estimates. Including volatile food and energy costs, the headline PCE reading showed a 0.3% increase for the month and…