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United Airlines in talks to buy at least 100 Boeing 737 Max jets - Bloomberg News
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File PhotoUnited Airlines Holdings Inc (UAL.O) is in advanced talks to buy a large narrow-body aircraft order, which would include at least 100 Boeing Co (BA.N) 737 Max jets as part of a broader fleet revamp, Bloomberg News reported late Wednesday. "We do not currently have a deal in place with Boeing or Airbus to purchase new aircraft and do not comment on speculative aircraft orders," United spokesperson Luke Punzenberger said. In March, the airline had ordered 25 new Boeing 737 MAX aircraft, as it prepares to replace aging jets and meet post-pandemic demand growth. Reuters last month reported that Boeing had drawn up preliminary plans for a fresh sprint in 737 MAX output to as many as 42 jets a month in fall 2022. read moreOur Standards: The Thomson Reuters Trust Principles.
Persons: Chris Helgren, Luke Punzenberger Organizations: United Airlines, Newark Liberty International Airport, REUTERS, United Airlines Holdings Inc, Boeing Co, Bloomberg News, Boeing, Airbus, Bloomberg, MAX, Reuters, Thomson Locations: New York City, New Jersey, U.S, United States
United Plans to Buy 15 Supersonic Planes
  + stars: | 2021-06-03 | by ( Matt Grossman | ) www.wsj.com sentiment -0.99   time to read: +1 min
United’s agreement to buy 15 of Boom’s Overture aircraft is conditional on whether the design—which hasn’t yet been built—can meet safety, operational and sustainability standards, the companies said Thursday. The Overture would be capable of flying at Mach 1.7, or 1.7 times the speed of sound, according to Boom and United. Boom has much ground to cover before United Airlines passengers board the Overture for supersonic flights. The Denver-based company, which also brands itself as Boom Supersonic and was founded in 2014 by its chief executive, Blake Scholl, hasn’t yet built an airplane that has flown. Its first prototype, the XB-1, could fly for the first time later this year or early next year, the spokeswoman said.
Persons: Boom, Blake Scholl Organizations: United Airlines Holdings Inc, Boom Technology Inc, Concorde, United, United Airlines Locations: London, Newark , N.J, San Francisco, Tokyo, Denver
Business Travel Is Coming Back
  + stars: | 2021-06-01 | by ( Alison Sider | ) www.wsj.com + 0.86   time to read: +1 min
Fresh signs are emerging that business travelers won’t be grounded much longer. Alison Taylor, chief customer officer at American Airlines Group Inc., said 47 of the airline’s 50 largest corporate accounts have said they plan to resume traveling this year. “They’re getting their office opened, feeling comfortable with that as the first steps, and then travel comes after that,” she said. Corporate trips remain 70% or more below pre-pandemic levels, according to airlines, which rely heavily on business travel for a huge share of their revenue. But carriers including American and United Airlines Holdings Inc. said the pace of business travel bookings has been picking up in recent weeks.
Persons: won’t, Alison Taylor, “ They’re, Organizations: American Airlines Group Inc, Corporate, United Airlines Holdings Inc
Qantas ponders customer incentives to boost COVID-19 vaccination rates
  + stars: | 2021-05-27 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
Qantas, which is retiring its remaining Boeing 747 planes early due to the coronavirus disease (COVID-19) pandemic, celebrates the departure of its last 747 jumbo jet from the Sydney Airport in Sydney, Australia, July 22, 2020. REUTERS/Loren ElliottQantas Airways Ltd (QAN.AX) said on Friday it was considering a plan to reward customers who have received both doses of a COVID-19 vaccine with incentives like frequent flyer points or flight vouchers to help boost vaccination rates in Australia. The airline has said it will require all passengers to be vaccinated when it restarts international flights beyond New Zealand, in a policy that has been cricitised by the World Travel and Tourism Council as discriminatory. "As a large company that relies on travel to put our people and planes back to work, we're obviously motivated to help with the national vaccine effort," Qantas Chief Customer Officer Stephanie Tully said in a statement. "We're still thinking through how this would work, but the incentive could be Qantas points, Qantas or Jetstar flight vouchers, or status credits for frequent flyers."
Persons: Loren Elliott, we're, Stephanie Tully, Biden Organizations: Qantas, Boeing, Sydney Airport, REUTERS, Loren Elliott Qantas Airways Ltd, World, Tourism Council, Jetstar, United Airlines Holdings Inc, Thomson Locations: Sydney, Australia, New Zealand, United States, Britain, Japan, Melbourne
United Airlines sees smaller unit revenue decline as summer demand picks up
  + stars: | 2021-05-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File Photo(Reuters) - United Airlines Holdings Inc on Tuesday forecast a smaller fall in second-quarter unit revenue and core margins, and said it expects domestic leisure yields for summer travel to exceed 2019 levels. “Business demand continues to be significantly depressed, though bookings for business travel are starting to recover,” United said. The carrier expects total revenue per available seat mile (TRASM), or unit revenue, to be down about 12% in the second quarter from 2019, compared to its prior outlook of down about 20%. United expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin in the quarter to be down 11%, compared to its prior forecast of down 20%.
Persons: Chris Helgren, ” United Organizations: United Airlines, Newark Liberty International Airport, REUTERS, United Airlines Holdings Inc, United, U.S, Southwest Airlines Locations: New York City, New Jersey, U.S, United States, India, Israel
A resolution from shareholders including nonprofit Oxfam America calls for Amazon to consider nominating an hourly employee to its board. Amazon’s board has recommended that shareholders reject the proposal, and very few U.S. companies give workers a board seat. During the labor organizing campaign, some staff had aired grievances including fatigue from warehouse work and mandatory anti-union meetings. Various countries including Germany have requirements for worker representation in boardrooms, but only a few U.S. companies have such representation including top airlines Delta Air Lines Inc and United Airlines Holdings Inc. The second-largest proxy adviser, Glass Lewis, has recommended investors oppose the director-candidate resolution, worried it could threaten the board’s independence and shareholder value.
Persons: Jeff Bezos, , Jennifer Bates, Bates, ” Bates, Glass Lewis, Courteney Keatinge, Ross Kerber, Jeffrey Dastin, Jessica DiNapoli, David Gregorio Organizations: Amazon.com Inc, Oxfam America, Amazon, Services, Oxfam, Reuters, Delta Air Lines Inc, United Airlines Holdings Inc, Starbucks Corp, Woodward Inc, ISS, BlackRock Inc Locations: Bessemer, Alabama, United States, Germany, Washington, Boston, San Francisco
A resolution from shareholders including nonprofit Oxfam America calls for Amazon to consider nominating an hourly employee to its board. Amazon's board has recommended that shareholders reject the proposal, and very few U.S. companies give workers a board seat. During the labor organizing campaign, some staff had aired grievances including fatigue from warehouse work and mandatory anti-union meetings. Various countries including Germany have requirements for worker representation in boardrooms, but only a few U.S. companies have such representation including top airlines Delta Air Lines Inc (DAL.N) and United Airlines Holdings Inc (UAL.O). The second-largest proxy adviser, Glass Lewis, has recommended investors oppose the director-candidate resolution, worried it could threaten the board's independence and shareholder value.
Persons: Brendan McDermid, Jeff Bezos, Jennifer Bates, Bates, Glass Lewis, Courteney Keatinge Organizations: REUTERS, Amazon.com Inc, Oxfam America, Amazon, Services, Oxfam, Reuters, Delta Air Lines Inc, United Airlines Holdings Inc, Starbucks Corp, Woodward Inc, ISS, BlackRock Inc, Thomson Locations: Staten Island , New York, U.S, Bessemer, Alabama, United States, Germany, Washington
United says domestic leisure fares are topping 2019 levels as bookings pick up
  + stars: | 2021-05-25 | by ( Leslie Josephs | ) www.cnbc.com sentiment -1.00   time to read: 1 min
A United Airlines Holdings Inc. employee helps a traveler at a ticket counter for Hawaii at San Francisco International Airport (SFO) in San Francisco, California, U.S., on Thursday, Oct. 15, 2020. Summer vacations are getting more and more expensive as travelers return from the long pandemic lull. United Airlines said Tuesday that yields on domestic leisure tickets purchased this month topped 2019 levels and said the trend would continue through summer, echoing similar comments from Southwest Airlines last week. United said total revenue per available seat mile, a gauge of how much revenue airlines are bringing in compared with its capacity, would be down 12% for the second quarter from previous guidance of about a 20% decline. Weak business travel demand is weighing on yields overall, though those are close to 2019 levels, United said.
Persons: United Organizations: United Airlines Holdings Inc, San Francisco International Airport, United Airlines, Southwest Airlines Locations: Hawaii, San Francisco , California, U.S
JetBlue Founder’s New Airline Breeze Launches as Travel Bounces Back
  + stars: | 2021-05-21 | by ( Alison Sider | ) www.wsj.com sentiment -0.99   time to read: +1 min
JetBlue Airways Corp. founder David Neeleman is making another bet on the U.S. airline business as travel bounces back from the coronavirus pandemic. Breeze Airways, Mr. Neeleman’s fifth airline startup, said Friday it will focus on nonstop flights between midsize cities—routes where rival airlines are largely absent—starting at the end of the month. The upstart airline is flying into an increasingly crowded marketplace. Avelo Airlines, another new carrier operating in the Western U.S., has already attracted competition from other airlines on some routes. “I can tell you at United Airlines, we’re going to do the opposite.”Mr. Neeleman had hoped Breeze would begin flying in 2020 until the pandemic decimated demand for air travel and forced him to delay his plans and seek outside investments.
Persons: David Neeleman, Neeleman’s, ” Scott Kirby, ” Mr, Neeleman Organizations: JetBlue Airways Corp, U.S, Breeze Airways, Avelo Airlines, United Airlines Holdings Inc, Bloomberg, United Airlines Locations: Western U.S, downturns
Boeing Nears Fix for 777 Engine Covers
  + stars: | 2021-05-12 | by ( Andrew Tangel | ) www.wsj.com sentiment -0.99   time to read: +1 min
Boeing Co. is nearing a fix for engine covers like the one that broke apart on a United Airlines 777 jet over Colorado earlier this year, people briefed on the matter said. The fix, expected to be completed as soon as early June, would strengthen the engine covers to prevent plane parts from detaching midair and striking the aircraft or falling to the ground below, these people said. The progress in developing a fix for the engine covers comes as United Airlines Holdings Inc. hopes to return to service certain Boeing 777 jets that are powered by Pratt & Whitney engines. Boeing’s fix is expected to include metal components that would strengthen the engine covers, people familiar with the matter said. United has said it had another 28 of the jets with Pratt & Whitney engines in storage.
Persons: United Organizations: Boeing Co, United Airlines, United Airlines Holdings Inc, Boeing, Pratt & Whitney Locations: Colorado, Denver, U.S
Corporate Bond Gauge Signals Dwindling Economic Risk
  + stars: | 2021-04-22 | by ( Sam Goldfarb | ) www.wsj.com + 0.91   time to read: +1 min
A key measure of the perceived risk in low-rated corporate bonds is hovering around its lowest level in more than a decade, highlighting investors’ mounting confidence in the economic outlook. The average extra yield, or spread, investors demand to hold speculative-grade corporate bonds over U.S. Treasurys dropped below 3 percentage points this month to as low as 2.90 percentage points for the first time since 2007, when it set a record of 2.33 percentage points, according to Bloomberg Barclays data. Yields on low-rated corporate bonds already hit a record low of 3.89% in February. That data point is especially important for businesses, because it signals how cheaply they can borrow when they issue new bonds. The narrow speculative-grade bond spreads indicate debt investors think that the economic environment for businesses over the next several years could be better than at any time since the 2008-2009 financial crisis—a striking development after many feared a severe, long-lasting economic downturn just last year.
Persons: Treasurys Organizations: Bloomberg Barclays, Charter Communications Inc, United Airlines Holdings Inc, P Global Market Intelligence
“We’re not out of the woods yet when it comes to the COVID virus and getting to where global economies are reopening,” he said. Unofficially, the Dow Jones Industrial Average fell 0.75% to end at 33,820.51 points, while the S&P 500 lost 0.68% to 4,134.96. United Airlines Holdings Inc was the largest decliner on the S&P 500 after reporting a bigger-than-expected adjusted net loss to push the S&P 1500 airline index down. Analysts expect first-quarter earnings from S&P 500 firms to jump 31.5% from a year earlier, according to Refinitiv IBES data. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila, Anil D’Silva and Arun Koyyur and Richard Chang)
Persons: Michael James, “ We’re, , Dick Bove, ” Bove, lockdowns, Shivani Kumaresan, Medha Singh, Sriraj Kalluvila, Anil D’Silva, Arun Koyyur, Richard Chang Organizations: Kansas City Southern, National, Boeing, Canadian National, U.S ., Canadian Pacific, JetBlue Airways, American Airlines, Cruise, Carnival Corp, Wedbush Securities, World Health Organization, Dow Jones, Nasdaq, JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Odeon Capital, United Airlines Holdings Inc, Netflix Inc, Business Machines Corp Locations: Los Angeles, COVID, Bengaluru
Wall Street slides as virus spike hits travel stocks
  + stars: | 2021-04-20 | by ( Herbert Lash | Medha Singh | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. The Dow Jones Industrial Average fell 1.08%, the S&P 500 lost 0.97% and the Nasdaq Composite dropped 1.31%. United Airlines Holdings Inc tumbled 9.6%, the largest decliner on the S&P 500, after reporting a bigger-than-expected adjusted net loss. Analysts expect first-quarter earnings from S&P 500 firms to jump 31.5% from a year earlier, according to Refinitiv IBES data. The S&P 500 posted 59 new 52-week highs and no new lows; the Nasdaq Composite recorded 43 new highs and 106 new lows.
Persons: Brendan McDermid, Michael James, “ We’re, , Dick Bove, ” Bove, lockdowns Organizations: Reuters, New York Stock Exchange, REUTERS, Brendan McDermid Kansas City Southern, Canadian National, U.S ., Canadian Pacific, Boeing Co, JetBlue Airways, American Airlines, Cruise, Carnival Corp, Wedbush Securities, Dow Jones, Nasdaq, JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Odeon Capital, United Airlines Holdings Inc, Netflix Inc, Business Machines Corp, NYSE Locations: New York, U.S, Los Angeles
Wall Street closes lower as virus spike hits travel stocks
  + stars: | 2021-04-20 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
Investors piled into defensive sectors considered relatively safe during times of economic uncertainty, lifting real estate, utilities, consumer staples and healthcare as financials and energy shares fell hard. The S&P 500 shed 0.68% to 4,134.94 and the Nasdaq Composite dropped 0.92% to 13,786.27. Volume on U.S. exchanges was 10.21 billion shares, compared with the 10.59 billion average for the full session over the last 20 trading days. Analysts expect first-quarter earnings from S&P 500 firms to jump 31.5% from a year earlier, according to Refinitiv IBES data. The S&P 500 posted 61 new 52-week highs and no new lows; the Nasdaq Composite recorded 47 new highs and 116 new lows.
Persons: Michael James, “ We’re, , Brendan McDermid, Dick Bove, ” Bove, lockdowns Organizations: YORK, Kansas City Southern, Canadian National, U.S ., Canadian Pacific, Boeing Co, JetBlue Airways, American Airlines, Cruise, Carnival Corp, Wedbush Securities, World Health Organization, New York Stock Exchange, REUTERS, Dow Jones, Nasdaq, JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Odeon Capital, United Airlines Holdings Inc, Netflix Inc, Netflix, Business Machines Corp, NYSE Locations: Los Angeles, COVID, New York, U.S
United Airlines plans to resume operations of grounded 777 planes
  + stars: | 2021-04-20 | by ( ) www.reuters.com sentiment -0.99   time to read: 1 min
A United Airlines Boeing 777-200, with Tail Number N796UA, lands at San Francisco International Airport, San Francisco, California, April 14, 2015. REUTERS/Louis NastroUnited Airlines Holdings Inc (UAL.O) said Tuesday it plans to resume operations of its grounded Boeing 777-200 planes with Pratt & Whitney engines at some point in the future. United's 52 777 planes with the PW4000 engines were grounded in February after an engine failure on a United flight to Honolulu from Denver. The Federal Aviation Administration ordered immediate inspections of those planes before further flights. "We look forward to getting that aircraft back to safe operations in the future," United chief operations officer Jon Roitman said.
Persons: Louis Nastro, Pratt & Whitney, Jon Roitman Organizations: United Airlines Boeing, San Francisco International Airport, REUTERS, Louis Nastro United Airlines Holdings Inc, Boeing, Pratt &, The Federal Aviation Administration, Thomson Locations: San Francisco , California, Honolulu, Denver
Several U.S. airlines have recently resumed hiring pilots or plan to this year, the latest sign the industry expects travel demand to continue rising. Now as travel demand returns, they are shifting their focus back toward hiring again. Pilot training can be time consuming and costly. United last week told staff it plans to resume pilot hiring, starting with some 300 pilots that had a new-hire date or conditional job offer when Covid-19 derailed those plans last year. Helane Becker, an airline analyst at Cowen & Co. said travel demand bounced back faster and more vigorously than expected.
Persons: Scott Kirby, Helane Becker, Delta, Bob Schmelzer Organizations: United Airlines Holdings Inc, San Francisco International Airport, U.S, American Airlines, United, JetBlue Airways, New York, Budget, Spirit Airlines, Allegiant, Airlines, PSA Airlines, Avelo Airlines, United Airlines, Airline, Cowen &, Delta Air Lines, Delta, Southwest Airlines Locations: San Francisco , California, U.S, Austin , Texas
FILE PHOTO: A Japan Airlines Boeing 777-300ER lands at San Francisco International Airport, San Francisco, California, February 14, 2015. REUTERS/Louis Nastro/File Photo(Reuters) - Japan Airlines Co Ltd (JAL) said it had retired its fleet of 13 Boeing Co 777s with Pratt & Whitney engines a year earlier than planned, having suspended operations in February after an engine on a United Airlines plane shed debris. The Japanese carrier had an incident of its own with the PW4000 engines in December, when a malfunction forced a Tokyo-bound JAL 777 to return to Naha airport. The engines are found on only a small number of older 777s operated by JAL, United Airlines Holdings Inc, ANA Holdings Inc, Korean Air Lines Co Ltd, Asiana Airlines Inc and Jin Air Co Ltd. Analysts had said airlines might speed up retirement of the planes as a result of the need for additional checks.
Persons: Louis Nastro, Pratt Organizations: Japan Airlines Boeing, San Francisco International Airport, REUTERS, Japan Airlines Co Ltd, JAL, Boeing Co, Pratt & Whitney, United Airlines, Boeing, Airbus, Osaka’s Itami, United Airlines Holdings Inc, ANA Holdings Inc, Korean Air Lines Co, Asiana Airlines Inc, Jin Air Co Ltd, U.S . Federal Aviation Administration, National Transportation Safety, Raytheon Technologies Corp, Analysts Locations: San Francisco , California, Osaka’s, Tokyo, Naha, East Hartford , Connecticut, Japan, South Korea
Boeing Resumes 787 Dreamliner Deliveries
  + stars: | 2021-03-26 | by ( Andrew Tangel | ) www.wsj.com sentiment -1.00   time to read: +1 min
Boeing Co. resumed deliveries of its 787 Dreamliner, a step toward moving past production problems with the widebody jets. The plane maker had halted deliveries of the popular jets in October after a series of production quality lapses. A Boeing spokesman declined to comment on the pace of deliveries for the company’s backlog of Dreamliners, which it has moved to produce at a rate of five airplanes a month. Since halting deliveries in October, Boeing has built up an inventory of more than 80 finished planes, according to aviation data provider Ascend by Cirium. The Boeing spokesman said the company thoroughly examined many aspects of the 787 program to ensure newly delivered airplanes “meet all regulatory requirements and Boeing’s highest quality standards.”
Organizations: Boeing Co, United Airlines Holdings Inc, Boeing Locations: Chicago
Airlines Add Routes in Fight for Americans Ready to Travel Again
  + stars: | 2021-03-25 | by ( Alison Sider | ) www.wsj.com sentiment -0.99   time to read: +1 min
Airlines are adding scores of U.S. routes as they battle for travelers looking to move around the country after being cooped up because of the coronavirus pandemic. In recent weeks, airlines have announced plans to fly more than 150 new domestic routes as they try to ferret out pockets of demand and stimulate new markets by connecting pairs of cities that previously hadn’t been easy to travel between. The moves come as business travel remains low and many international borders are still closed. Starting in late May, the airline plans to use 50-seat planes to offer nonstop flights between places such as Cleveland, Cincinnati and Milwaukee to Hilton Head, S.C., Pensacola, Fla., and Portland, Maine. The airline on Thursday announced more than two dozen new domestic routes for summer, such as nonstop service between Houston and Kalispell, Mont., near Glacier National Park, and between Chicago and Nantucket, Mass.
Organizations: United Airlines Holdings Inc, Hilton Locations: Cleveland, Cincinnati, Milwaukee, Pensacola, Fla, Portland , Maine, Houston, Kalispell, Mont, Chicago, Nantucket
Futures edge higher ahead of weekly jobless claims data
  + stars: | 2021-01-21 | by ( Devik Jain | Medha Singh | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) - U.S. stock index futures edged higher on Thursday as investors counted on more pandemic relief and speedy vaccine rollouts under the new Biden administration to aid the economic recovery while awaiting a reading on weekly jobless claims. FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, 2021. Wall Street’s main indexes ended at record highs in the previous session, when Biden took office, with the S&P 500 clocking in a 14% rise since the Nov. 3 presidential election. At 06:43 a.m. EST, Dow E-minis were up 43 points, or 0.14%, S&P 500 E-minis were up 6.75 points, or 0.18%. (Corrects paragraph 10 to show Deutsche Bank raised its price target on Ford’s stock on Wednesday, not Thursday.
Persons: Biden, Shannon Stapleton, Joe Biden Organizations: Reuters, New York Stock Exchange, REUTERS, Labor, U.S . Senate, Dow E, Nasdaq, United Airlines Holdings Inc, Ford Motor, Deutsche Bank Locations: New York, U.S
Wall Street set to open at record high on stimulus optimism
  + stars: | 2021-01-21 | by ( Devik Jain | Medha Singh | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, 2021. REUTERS/Shannon StapletonThe number of Americans filing for unemployment benefits was 900,000 in the latest week, the Labor Department’s report said. “Low interest rates, stimulus, and the earnings season so far are keeping the markets going,” said Nolte while warning that the stock market “across the board is very expensive and should correct here a little bit.”With valuations near a 20-year high, corporate results could present an important test of whether the stock market rally has run ahead of fundamentals. Earnings of S&P 500 companies are expected to rise by 24% in 2021 after falling 15% in 2020, as per Refinitiv data as of Dec. 15. ET, Dow E-minis were down 11 points, or 0.04% and S&P 500 E-minis were up 0.75 points, or 0.02%.
Persons: Biden, Shannon Stapleton, , Paul Nolte, Joe Biden, Nolte, Baker Hughes Organizations: Reuters, New York Stock Exchange, REUTERS, Labor, Kingsview Investment Management, U.S . Senate, Dow E, Nasdaq, United Airlines Holdings Inc, Halliburton, Kinder Morgan Inc, Wall, Ford Motor, Deutsche Bank Locations: New York, U.S, Chicago
Wall Street hovers near record highs after Biden bounce
  + stars: | 2021-01-21 | by ( Devik Jain | Medha Singh | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, 2021. While the benchmark S&P 500 and the blue-chip Dow were about flat by 10:00 a.m. Energy, financial and industrial stocks, which have helped the S&P 500 rally 14% since the Nov. 3 presidential election, fell between 0.3% and 1.3%. With valuations near a 20-year high, corporate results could present an important test of whether the stock market rally has run ahead of fundamentals. Earnings at S&P 500 companies are expected to rise by 24% in 2021 after falling 15% in 2020, as per Refinitiv data as of Jan. 15.
Persons: Biden, Shannon Stapleton, , Chris Osmond, Joe Biden, Baker Hughes Organizations: Reuters, New York Stock Exchange, REUTERS, Labor, Dow, Apple Inc, Amazon.com Inc, Nasdaq, Prime Capital Investment Advisors, Republican, U.S . Senate, Energy, United Airlines Holdings Inc, Halliburton, Kinder Morgan Inc, Wall, Ford Motor, Deutsche Bank Locations: New York, U.S, Overland Park , Kansas
Wall Street pauses at record highs after Biden bounce
  + stars: | 2021-01-21 | by ( Devik Jain | Medha Singh | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, 2021. ET, the Dow Jones Industrial Average fell 15.14 points, or 0.05%, to 31,173.24 and the S&P 500 gained 1.89 points, or 0.05%, to 3,853.74. Energy, financial and industrial stocks, which have helped the S&P 500 rally 14% since the Nov. 3 presidential election, fell between 0.7% and 2.6%. Earnings at S&P 500 companies are expected to rise by 24% in 2021 after falling 15% in 2020, as per Refinitiv data as of Jan. 15. The S&P 500 posted 18 new 52-week highs and no new low, while the Nasdaq recorded 270 new highs and eight new lows.
Persons: Biden, Shannon Stapleton, “ It’s, we’re, , Ryan Detrick, Russell, underperformed, ” Detrick, Joe Biden Organizations: Reuters, New York Stock Exchange, REUTERS, Financial, Dow Jones, Nasdaq, Apple Inc, Amazon.com Inc, Netflix, , U.S . Senate, Communication, Energy, United Airlines Holdings Inc, Ford Motor, Deutsche Bank, NYSE Locations: New York, U.S, Charlotte , North Carolina
Wall Street pauses at record highs after Biden inauguration
  + stars: | 2021-01-21 | by ( Echo Wang | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - Wall Street’s main indexes edged up to record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery. ET (1908 GMT), the Dow Jones Industrial Average rose 21.19 points, or 0.07%, to 31,209.57, the S&P 500 gained 4.75 points, or 0.12%, to 3,856.6. Technology, consumer discretionary and communication services which includes Alphabet and Facebook, were the only S&P sectors in green. Earnings at S&P 500 companies are expected to rise by 24% in 2021 after falling 15% in 2020, according to Refinitiv data as of Jan. 15. The S&P 500 posted 19 new 52-week highs and no new lows; the Nasdaq Composite recorded 180 new highs and five new lows.
Persons: Biden, Shannon Stapleton, , Michael Arone, Arone, Russell, Joe Biden Organizations: Reuters, New York Stock Exchange, REUTERS, State Street Global Advisors, Dow Jones, Nasdaq, Inc, Apple Inc, Amazon.com Inc, Netflix, Technology, Energy, United Airlines Holdings Inc, Ford Motor, Deutsche Bank, NYSE Locations: New York, U.S, Boston
(Reuters) - The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery. President Joe Biden has launched several initiatives during his initial days in office, including ramping up testing and vaccine rollouts. Technology, consumer discretionary and communication services which includes Alphabet and Facebook, were the only S&P sectors in green. Energy was the biggest drag among 11 major S&P sectors, following news Biden revoked the Keystone XL oil pipeline project’s presidential permit. With valuations near a 20-year high, corporate results could present an important test of whether the stock market rally has run ahead of fundamentals.
Persons: Biden, Shannon Stapleton, “ We’ve, , Mohannad Aama, ” Aama, Russell, Joe Biden Organizations: Reuters, Nasdaq, New York Stock Exchange, REUTERS, Beam Capital Management, Dow Jones, Inc, Apple Inc, Amazon.com Inc, Netflix, Technology, Energy, Keystone XL, United Airlines Holdings Inc, Ford Motor Co, Deutsche Bank Locations: New York, U.S
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