Money
Delta Air Lines forecasts strong profit, amid travel boom
Delta Air Lines forecasts a stronger-than expected profit in the fourth quarter as travel demand soars
Delta Air Lines Inc has forecast a stronger-than-expected profit in the fourth quarter. The carrier expects travel demand to remain robust, despite growing risks of an economic recession.
Shares of Delta Air Lines soared more than 5% Thursday morning. The carrier forecast another stronger-than-expected profit in the fourth quarter after a summer travel surge.
The airline said it expects travel demand to stay strong despite growing risks of an economic recession and sharply higher ticket prices.
In an interview with Reuters, CEO Ed Bastian said consumers’ finances were still “quite healthy,” adding: “This demand surge is going … to continue for some time.”
Delta said its third-quarter earnings were impacted by Hurricane Ian, which led to mass flight cancellations last month, but strong travel demand generated the highest quarterly revenue in the company’s history.
Loosened health restrictions as well as a strong U.S. dollar have encouraged more Americans to travel overseas. Office re-openings are also boosting corporate travel demand.
Delta said corporate bookings, the industry’s cash cow, have increased. Its international passenger revenue has recovered to 97% of 2019 levels.
But growing risks of an economic recession amid high inflation have sparked worries about travel spending. This has hammered airline shares. It also took the focus away from what is shaping up to be the industry’s best earnings performance in three years.
The Federal Reserve is aggressively raising interest rates to tame inflation. They’re lowering demand and slowing economic growth, putting the industry’s pricing power under threat.
Thursday’s consumer price index report from the Labor Department showed that airline fares rose by nearly 43% in September, the fastest rate on record.
Higher ticket prices led to a 23% jump in Delta’s total revenue in the latest quarter.
Report by Chris Dignam.
Money
Commodities surge as oil volatility and metals hit record highs
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.
Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.
To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.
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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews
Money
Stocks slide and Trump cancels talks: What’s next for markets and Greenland?
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.
Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.
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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics
Money
U.S. budget deficit falls to $1.67 trillion
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.
David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.
We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.
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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews
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