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Why Amsterdam’s Schiphol Airport will cap passenger departures

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Amsterdam’s Schiphol Airport is capping the number of departures until next year

The airport says airlines “are not happy about it” but ultimately had no choice.

It follows a string of airport chaos over the busy summer period in The Netherlands and Europe more broadly.

Caps are expected to extend through the end of March. But authorities will review the situation again towards the end of this year.

The aviation business continues to be plagued by labor shortages on the back of the pandemic.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Inflation report tests stock rally before Fed meeting

**Inflation report next week could impact stock rally; Fed rate cuts anticipated amid strong job growth and resilient economy.**

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An upcoming inflation report will assess the strength of the U.S. stock market rally and influence the Federal Reserve’s rate cut strategy.

The S&P 500 has recorded its third consecutive weekly gain, increasing over 27% year-to-date.

This upward momentum in equities is influenced by expectations of additional Fed interest rate cuts amid a resilient economy.

Friday’s employment report indicated stronger than expected job growth, reinforcing this positive outlook. However, this data is not expected to change the Fed’s rate plans for its upcoming December meeting.

The consumer price index data due on Wednesday may alter this optimistic sentiment if inflation exceeds expectations, posing risks for well-performing stocks.

Experts note that if inflation rates are high, it could create uncertainty for investors before the Fed meeting.

Following the recent jobs report, the probability of the Fed cutting rates has increased, with nearly a 90% chance predicted for a 25 basis point cut.

The consumer price index is expected to rise by 2.7% over the past year.

If CPI results are higher than expected, it might prompt a cautious approach on future cuts, affecting outlooks for 2025.

Additionally, inflation concerns are heightened by the potential introduction of tariffs by President-elect Donald Trump.

Despite these factors, stock prices continue to rise, although there are warning signs of overly optimistic sentiment in the market.

Some analysts maintain a positive view on stocks heading into the year-end, citing a reduction in concerns surrounding the economy and interest rates.

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Stocks on the way to achieve three consecutive years of gains

S&P 500’s strong 2024 raises hopes, but concerns linger over AI sustainability and economic headwinds affecting future gains.

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The S&P 500 has risen 28% in 2024, poised for consecutive annual gains of over 20%.

Major banks forecast more modest returns for 2025, projecting the index reaching 6500, a 6.7% rise from approximately 6090.

Barclays has a more optimistic target of 6600, with Bank of America and Deutsche Bank expecting 6666 and 7000, respectively.

President-elect Donald Trump’s policies are seen as potentially beneficial for stocks, though high interest rates and geopolitical issues pose risks.

Investors remain cautious about the sustainability of the rally.

Economic conditions

Upcoming inflation data will be crucial for assessing economic conditions before the Federal Reserve’s anticipated rate cut in December.

Increasingly, small-cap stocks are joining the rally, with the Russell 2000 index nearing record highs.

More than 220 S&P stocks have hit 52-week highs recently, which indicates broader market strength, making it less susceptible to downturns.

The early market gains were largely driven by major tech stocks, which continue to perform well amid various challenges.

Long-term growth expectations, however, appear dim, with forecasts suggesting limited gains over the next decade.

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Trump appoints David Sacks as AI and crypto czar

Trump appoints David Sacks as White House AI and crypto czar, focusing on tech leadership and regulatory framework.

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David Sacks has been appointed by President-elect Donald Trump as the White House’s artificial intelligence and crypto czar.

Sacks, a former COO of PayPal, co-founded Craft Ventures and has invested in notable tech companies.

Trump made the announcement on Truth Social, emphasizing Sacks’ role in enhancing America’s leadership in AI and crypto, while protecting free speech and combating Big Tech censorship.

Sacks has previously supported Trump, hosting high-profile fundraisers and discussing political issues on his “All-In” podcast.

Critical of Trump

While he has made donations to various political figures across the spectrum, Sacks has been critical of Trump in the past, especially regarding the January 6 Capitol riot.

His appointment reflects Trump’s strategy of filling his administration with supporters from Silicon Valley and Wall Street who may favor less stringent tech regulations.

Sacks will be tasked with establishing a legal framework for cryptocurrencies in the U.S. and will head a presidential advisory council on science and technology.

This position is notable as the Biden administration has not designated a counterpart for crypto and AI.

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