Latest news with #JetBlueAirways
a day ago
- Business
Wall Street tiptoes toward more records as its busy week picks up momentum
NEW YORK -- U.S. stock indexes are ticking higher on Tuesday as an incredibly busy week for Wall Street picks up momentum. The S&P 500 was up 0.2% in early trading after setting an all-time high in six straight days. The Dow Jones Industrial Average was virtually unchanged as of 9:35 a.m. Eastern time, and the Nasdaq composite was adding 0.5% to its own record. JetBlue Airways climbed 14.4%, and SoFi Technologies jumped 16.2%, but Merck dropped 7.8% following a growing torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. Treasury yields were easing a bit in the bond market as the Federal Reserve gets set to begin a two-day meeting where they will decide what to do with short-term interest rates. Despite angry lobbying from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. Chinese stock indexes, meanwhile, were mixed as top trade officials from the world's two largest economies headed into a second day of talks about tariffs. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in Sweden's capital and working against an Aug. 12 deadline. If they don't reach a deal or at least an extension on their truce by then, triple-digit tariffs are set to resume. Later this week, another deadline is looming on Friday for many of Trump's proposed tariffs on other countries. And if that weren't enough, several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. This jam-packed week could prove pivotal in determining whether the U.S. stock market can keep climbing to more records or succumb to criticism that it's grown too expensive following its quick leap in recent months. One way companies can tamp down such criticism is to deliver solid growth in profits. That helped Beyond, whose stock came into the day with a gain of nearly 109% for the year so far. The company, which owns Bed Bath & Beyond, Overstock and other brands, reported stronger results for the latest quarter than analysts expected. It lost $19 million during the quarter, but that was better than forecast, and its stock rose 3.4%. But investors have also been punishing stocks of companies that have failed to meet expectations so far this reporting season. UnitedHealth Group dropped 5.1% after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. In stock markets abroad, Japan's Nikkei fell 0.8%, but indexes elsewhere rose across much of Asia and Europe. In the bond market, the yield on the 10-year U.S. Treasury eased to 4.39% from 4.42% late Monday.
CTV News
2 days ago
- Business
- CTV News
JetBlue, United partnership gets go-ahead from U.S. Transportation Department
In this Oct. 18, 2019, file photo a JetBlue Airways flight flies in to Salt Lake City International Airport in Salt Lake City. (Rick Bowmer / AP Photo) JetBlue and United Airlines have cleared the U.S. Department of Transportation's review of their planned partnership which allows them to proceed with the implementation, the companies said on Tuesday. JetBlue had been seeking partnerships after a federal judge blocked its alliance with American Airlines in 2023. In May, JetBlue and United unveiled a partnership, dubbed 'Blue Sky,' that would allow travelers to book flights on both carriers' websites, while interchangeably earning and using points in their frequent flyer programs. Under the agreement, JetBlue would also provide United access to slots at the congested JFK International Airport at New York for up to seven daily round-trip flights, set to begin in 2027. The company said that the partnership is expected to contribute US$50 million more in incremental operating profit than it had initially planned. 'We believe Blue Sky will enable each airline to offer its customers access to hundreds of new flights and destinations through a traditional interline agreement,' said Marty St. George, JetBlue's president. Spirit Airlines in June had urged the U.S. transportation body to reject the collaboration between the two carriers, saying it was anticompetitive and would prompt other large carriers to pursue similar deals. Michael Ashley Schulman, chief investment officer at Running Point Capital, said by removing the antitrust triggers that led to the collapse of JetBlue's Northeast Alliance — such as shared revenue and joint scheduling — BlueSky has introduced a model that other mid-sized carriers could replicate with less risk of regulatory pushback. Antitrust officials under the Trump administration have been taking a more lenient approach to corporate deals, a shift from the stricter stance seen under Biden. In June, they approved several multibillion-dollar deals in just one week, signaling a greater willingness to settle with companies. More than 100 transactions have been granted shorter reviews this year, according to FTC data from July. JetBlue and United said that Blue Sky would begin introducing new customer benefits starting in fall 2025, rolling them out in phases. --- Reporting by Aishwarya Jain in Bengaluru and Doyinsola Oladipo in New York; Editing by Shailesh Kuber
CTV News
2 days ago
- Business
- CTV News
Wall Street tiptoes toward more records as its busy week picks up momentum
NEW YORK — U.S. stock indexes are ticking higher on Tuesday as an incredibly busy week for Wall Street picks up momentum. The S&P 500 was up 0.2 per cent in early trading after setting an all-time high in six straight days. The Dow Jones Industrial Average was virtually unchanged as of 9:35 a.m. Eastern time, and the Nasdaq composite was adding 0.5 per cent to its own record. JetBlue Airways climbed 14.4 per cent, and SoFi Technologies jumped 16.2 per cent, but Merck dropped 7.8 per cent following a growing torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. Treasury yields were easing a bit in the bond market as the U.S. Federal Reserve gets set to begin a two-day meeting where they will decide what to do with short-term interest rates. Despite angry lobbying from U.S. President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. Chinese stock indexes, meanwhile, were mixed as top trade officials from the world's two largest economies headed into a second day of talks about tariffs. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in Sweden's capital and working against an Aug. 12 deadline. If they don't reach a deal or at least an extension on their truce by then, triple-digit tariffs are set to resume. Later this week, another deadline is looming on Friday for many of Trump's proposed tariffs on other countries. And if that weren't enough, several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. This jam-packed week could prove pivotal in determining whether the U.S. stock market can keep climbing to more records or succumb to criticism that it's grown too expensive following its quick leap in recent months. One way companies can tamp down such criticism is to deliver solid growth in profits. That helped Beyond, whose stock came into the day with a gain of nearly 109 per cent for the year so far. The company, which owns Bed Bath & Beyond, Overstock and other brands, reported stronger results for the latest quarter than analysts expected. It lost US$19 million during the quarter, but that was better than forecast, and its stock rose 3.4 per cent. But investors have also been punishing stocks of companies that have failed to meet expectations so far this reporting season. UnitedHealth Group dropped 5.1 per cent after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. In stock markets abroad, Japan's Nikkei fell 0.8 per cent, but indexes elsewhere rose across much of Asia and Europe. In the bond market, the yield on the 10-year U.S. Treasury eased to 4.39 per cent from 4.42 per cent late Monday. ___ AP business writers Yuri Kageyama and Matt Ott contributed. By Stan Choe
2 days ago
- Business
Wall Street tiptoes around its records as its busy week picks up momentum
NEW YORK -- U.S. stock indexes are tiptoeing around their record levels on Tuesday as an incredibly busy week for Wall Street picks up momentum. The S&P 500 was up 0.2% in morning trading after setting an all-time high in six straight days. The Dow Jones Industrial Average was down 8 points, or less than 0.1%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was adding 0.2% to its own record. JetBlue Airways climbed 3.7%, and SoFi Technologies jumped 17.1%, but Merck dropped 4.7% following a torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. Treasury yields eased in the bond market as the Federal Reserve gets set to begin a two-day meeting where they will decide what to do with short-term interest rates. Despite angry lobbying from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. The U.S. economy has seemed to hold up OK so far despite the pressures of tariffs, though it does appear to be slowing. One report on Tuesday said that U.S. employers were advertising fewer job openings at the end of June than a month before, though still a bit more than economists expected. A separate report said confidence rose among U.S. consumers, but a measure of their expectations for the economy in the short term remains below the level that typically signals a recession ahead. "Consumer confidence has stabilized since May, rebounding from April's plunge, but remains below last year's heady levels,' according to Stephanie Guichard, senior economist, global indicators, at The Conference Board. Chinese stock indexes, meanwhile, were mixed as top trade officials from the world's two largest economies headed into a second day of talks about tariffs. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in Sweden's capital and working against an Aug. 12 deadline. If they don't reach a deal or at least an extension on their truce by then, triple-digit tariffs are set to resume. Later this week, another deadline is looming on Friday for many of Trump's proposed tariffs on other countries. And if that weren't enough, several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. This jam-packed week could prove pivotal in determining whether the U.S. stock market can keep climbing to more records or succumb to criticism that it's grown too expensive following its quick leap in recent months. One way companies can tamp down such criticism is to deliver solid growth in profits. That helped Cadence Design Systems, whose stock came into the day with a gain of 11.1% for the year so far. The computational software company said it's continuing to benefit from the flood of investment into the artificial-intelligence industry, and it raised its forecast for revenue growth this year. Its stock rose 10.2%. But investors have also been punishing stocks of companies that have failed to meet expectations so far this reporting season. UnitedHealth Group dropped 3.7% after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. Shares of Novo Nordisk that trade in the United States tumbled 20.5% after the Danish company cut its forecast for sales growth this year, in part because of lower expectations for its Wegovy weight-loss drug because of high competition. It also named a new chief executive officer. In stock markets abroad, Japan's Nikkei fell 0.8%, but indexes elsewhere rose across much of Asia and Europe. In the bond market, the yield on the 10-year U.S. Treasury eased to 4.37% from 4.42% late Monday.
Time of India
2 days ago
- Business
- Time of India
S&P 500, Nasdaq tick at record highs with earnings, Fed meeting in focus
U.S. stock indexes are ticking higher on Tuesday as an incredibly busy week for Wall Street picks up momentum. The S&P 500 was up 0.2% in early trading after setting an all-time high in six straight days. The Dow Jones Industrial Average was virtually unchanged as of 9:35 a.m. Eastern time, and the Nasdaq composite was adding 0.5% to its own record. JetBlue Airways climbed 14.4%, and SoFi Technologies jumped 16.2%, but Merck dropped 7.8% following a growing torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. Treasury yields were easing a bit in the bond market as the Federal Reserve gets set to begin a two-day meeting where they will decide what to do with short-term interest rates. Despite angry lobbying from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. Chinese stock indexes, meanwhile, were mixed as top trade officials from the world's two largest economies headed into a second day of talks about tariffs. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in Sweden's capital and working against an Aug. 12 deadline. If they don't reach a deal or at least an extension on their truce by then, triple-digit tariffs are set to resume. Live Events Later this week, another deadline is looming on Friday for many of Trump's proposed tariffs on other countries. And if that weren't enough, several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. This jam-packed week could prove pivotal in determining whether the U.S. stock market can keep climbing to more records or succumb to criticism that it's grown too expensive following its quick leap in recent months. One way companies can tamp down such criticism is to deliver solid growth in profits. That helped Beyond, whose stock came into the day with a gain of nearly 109% for the year so far. The company, which owns Bed Bath & Beyond, Overstock and other brands, reported stronger results for the latest quarter than analysts expected. It lost $19 million during the quarter, but that was better than forecast, and its stock rose 3.4%. But investors have also been punishing stocks of companies that have failed to meet expectations so far this reporting season. UnitedHealth Group dropped 5.1% after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. In stock markets abroad, Japan's Nikkei fell 0.8%, but indexes elsewhere rose across much of Asia and Europe. In the bond market, the yield on the 10-year U.S. Treasury eased to 4.39% from 4.42% late Monday.
