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☆ These bonds offering tax-free income will still be a good deal in 2024
▼ + stars: | 2023-12-27 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

Municipal bonds, favored for their tax-free income, are looking at a solid year in 2024 and could be a compelling purchase for investors hoping to lock in attractive yields. "We will likely see positive total returns," said Cooper Howard, fixed income strategist at the Schwab Center for Financial Research. "Munis are one of the best things going in the fixed income space," he said. It provides all the attributes of fixed income, and it serves as ballast to an overall diversified portfolio." Naturally, rates are on the minds of fixed income investors and strategists, as well as recession risk.

Persons: Cooper Howard, who've, Peter Higgins, Ben Barber, Schwab's Howard, Paul Malloy, It's, Beth Foos, Malloy, Howard, you've Organizations: Schwab Center, Financial Research, Morningstar U.S, Municipal, Shelton Capital Management, York Life Investments, Franklin, AAA, Vanguard, Bond, Morningstar Locations: New York , New Jersey, California

☆ U.S. crude oil falls below $70 a barrel, closing at the lowest level since June
▼ + stars: | 2023-12-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined 4% on Wednesday, closing at the lowest level since late June with retail gasoline prices hitting the lowest point since January just ahead of the holiday shopping and travel season. Meanwhile, U.S. data on Wednesday sent a mixed picture on demand with crude inventories falling while gasoline stocks rose. U.S. crude inventories fell by 4.6 million barrels for the week ending Dec. 1 but gasoline inventories rose by 5.4 million barrels, according to the Energy Information Administration. Several OPEC+ members announced the voluntary cuts last week after the group failed to reach a unanimous agreement on production targets. Tamas Varga, an analyst with PVM Oil Associates, said those reassurances have "fallen to deaf ears."

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Tamas Varga Organizations: West Texas Intermediate, AAA, Hamas, Wednesday, Energy Information Administration, Saudi Energy, PVM Oil Associates Locations: Washington , DC, U.S, OPEC, Moody's, Israel, Russia, Russian

☆ I took the Grand Canyon Railway for $174. My ticket got me seats in a 'luxury dome' and first class.
▼ + stars: | 2023-12-04 | by ( Athena Sobhan | ) www.businessinsider.com time to read: +4 min

The Grand Canyon Railway takes guests from Williams, Arizona, to the south rim of the Grand Canyon. The experience was absolutely worth the price and made visiting Grand Canyon National Park easy. After doing some research online, I discovered that I could travel to the Grand Canyon on the historic Grand Canyon Railway, which takes visitors from Williams, Arizona, to the south rim of the canyon. Overall, the trip on the Grand Canyon Railway was worth the priceThe Grand Canyon Railway took us from Williams, Arizona, to the south rim of the Grand Canyon. Riding on the Grand Canyon Railway was an experience I'll never forget.

Persons: —, I'd, Athena Sobhan, Sobhan, Williams Organizations: Railway, Service, Pullman, AAA Locations: Williams , Arizona, Riding

☆ Trump’s avalanche of dishonesty: Fact-checking 102 of his false claims from this fall
▼ + stars: | 2023-12-01 | by ( Daniel Dale | ) edition.cnn.com time to read: +111 min

Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.

Persons: Donald Trump, –, Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, “, ”, Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, ’, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, ‘, Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, …, White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, ”, Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, –, Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, “, University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, “, U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, ”, ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, –, Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda

“Despite the challenges, we still expect OPEC+ to reach an agreement to reduce production," he said in an analyst note. Lower oil prices have allowed U.S. gas prices to fall or stay steady since Sept. 19, AAA said. White House national security spokesman John Kirby declined to address the possibility of OPEC+ reducing oil production. U.S. oil production has hit records as OPEC+ has cut back, with producers outside the group expected to keep leading global growth in oil supply next year, the International Energy Agency said in its November oil report. Now, the risk is growing that Saudi Arabia’s production cuts could reduce OPEC’s influence over oil supplies as other countries boost their output.

Persons: That's, Jorge Leon, Brent, Joe Biden, Biden, John Kirby, “, ” Kirby, ” Leon, ” ___ Boak Organizations: OPEC, United Arab, Rystad Energy, International Monetary Fund, Brent, New York Mercantile Exchange, AAA, Gas, White House, International Energy Agency, U.S, U.S . Energy Information Administration, Saudi Locations: Saudi Arabia, Russia, OPEC, Israel, United Arab Emirates, Vienna, Ukraine, United States, U.S, Washington

That was the lowest year-over-year inflation rate in more than 2 1/2 years. Core prices rose 3.5% in October from a year earlier, below the 3.7% year-over-year increase in September. Those price increases, though smaller than they were last year, are still faster than was typically true before the pandemic. The declines in spending on those items suggests that the Fed's rate increases are discouraging purchases in some areas. The central bank’s rate rate hikes have elevated the costs of mortgages, auto loans and other forms of consumer borrowing as well as business loans.

Persons: They've, ” Vincent Reinhart, Christopher Waller, Waller Organizations: WASHINGTON, Commerce Department, Dreyfus, Mellon, AAA, Fed Locations: Europe, U.S

☆ Gas prices drop more than 60 days in a row
▼ + stars: | 2023-11-28 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Gas prices have now fallen every day since the peak on September 18, AAA data shows. However, it’s normal for gas prices to cool off once the summer driving season ends because demand drops. Gas prices are now down 63 cents since hitting $3.88 in September. Yet oil prices — the main driver of retail pump prices — also have tumbled about 20% since briefly topping $95 a barrel on September 28. No matter the reason, gas prices are falling around the country.

Persons: That’s, ”, Tom Kloza, Kloza, OPIS, “ It’s, ” Kloza Organizations: New, New York CNN, AAA, Oil Price Information Service, Saudi Locations: New York, Israel, Hormuz, Iran, Ukraine, Saudi Arabia, China, OPEC, United States, Wisconsin , Ohio, South Carolina, Hawaii, Washington, California

Gas prices have fallen or remained steady since Sep. 19 — marking about a 70-day trajectory of decline, Andrew Gross, spokesperson for motor club AAA, said Tuesday. As of Tuesday, the national average for gas prices stood just below $3.25, according to AAA. Experts point to a recent decline in oil prices and a seasonal dip in demand, as well as easing inflation. Political Cartoons View All 1270 ImagesWHY ARE GAS PRICES FALLING? While the downward trend in gas prices is expected to continue at least into the New Year, anything's possible.

Persons: — It's, Andrew Gross, Patrick De Haan, Gross, ” Gross, De Haan, There's, ” De Haan, — Organizations: AAA, West Texas Locations: U.S, Russia, Ukraine, Saudi Arabia, OPEC, Israel, Texas, Mississippi, Georgia, California, Hawaii, Washington

☆ New ECB rating agency Scope puts greater weight on euro zone protection mechanisms
▼ + stars: | 2023-11-27 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

While the euro zone has pledged to do "whatever it takes" and jointly issued debt for the first time during the pandemic, its debt load remains eye-watering. Scope assigns Italy a "stable" outlook, but "risks remain", Shen said, "given the weak growth and fiscal outlook". Reuters GraphicsNEXT CRISISThe ECB uses the best rating available from its approved agencies to determine a bond's collateral value when commercial banks borrow from it. Last week's Dutch election win by the far-right Geert Wilders could also have rating implications, Shen said. "Governance risks are a challenge in the longer run for one of the world’s remaining AAA-rated sovereigns...But the rating is not imminently at risk."

Persons: Yorgos, Moody's, Dennis Shen, Fitch, DBRS Morningstar, Shen, DBRS, bode, Geert Wilders, Marc Jones, Kirsten Donovan Organizations: REUTERS, Companies, AAA, European Central Bank, Reuters, Reuters Graphics NEXT, ECB, Thomson Locations: Athens, Italy, France, Berlin, U.S, Greece, Spain, Portugal, Cyprus, Rome, Canada, Dutch

☆ China's money market shows signs of liquidity tightness towards month-end
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI, Nov 27 (Reuters) - Cash conditions in China's money market showed signs of tightness on Monday, as market participants grew cautious about month-end demand and a recent liquidity squeeze remained fresh in memory. The price of the benchmark seven-day repos traded in the interbank market, hit a high of 2.8% on Monday, the highest level since Oct. 31. Meanwhile, the borrowing cost of such repos for non-bank financial institutions was about 3.5%, according to traders. "Money that can help span the month-end has tightening bias, and it's expensive for non-banks," said a trader at a Chinese bank. NCDs has been a popular short-term debt instrument used by financial institutions in the interbank market for financing.

Persons: Tingshu Wang, repos, Liu Yu, NCDs, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, GF Securities, AAA, Reuters, Shanghai, Thomson Locations: Beijing, China

☆ Record-setting holiday sales hit $12 billion
▼ + stars: | 2023-11-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Enticed by deep discounts, Americans are expected to celebrate Cyber Monday by spending a record-setting $12 billion online shopping. The early results suggest the holiday shopping season is off to a positive start, aided in part by lower gas prices. Another popular measure of holiday spending, Mastercard SpendingPulse, found e-commerce sales jumped by an even stronger 8.5% year-over-year on Black Friday. In another sign of sturdy consumer spending, Americans continue to travel aggressively. That’s down 63 cents from the peak in September and marks 60 consecutive days of falling gas prices.

Persons: New York CNN —, ” Michelle Meyer, men’s hoodies, Mastercard SpendingPulse, ”, Mastercard’s Meyer, That’s, Sensormatic, Covid, Meyer, ” Meyer Organizations: New, New York CNN, Mastercard Economics Institute, CNN, Adobe Analytics, Adobe, JCPenney, Mastercard, SpendingPulse, Bank of America, Transportation Security Administration, Federal Reserve, AAA Locations: New York

A constitutional court ruling on Nov. 15 against a budget manoeuvre to get around Germany's "debt brake" threw the financial plans of Chancellor Olaf Scholz's coalition into disarray. "As I have long been saying, we must fear that the debt brake becomes ever more a brake on the future," said Berlin mayor Kai Wegner on social media platform X. "The debt brake was implemented when Europe had a debt sustainability issue and Germany wanted to lead by example," he said. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. The Greens' campaign programme ahead of the last election included debt brake reform to allow for greater investments.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Chancellor Olaf Scholz's, Reiner Haseloff, Haseloff, Kai Wegner, Friedrich Merz, Carsten Brzeski, Roderich Kiesewetter, Stefan Marschall, Andreas Rinke, Sarah Marsh, Matthias Williams, Holger Hansen, Nick Macfie Organizations: Climate, Finance, BERLIN, U.S, Intel, Reuters, AAA, Christian Democratic Union, CDU, Christian Social Union, CSU, Berlin, Free Democrats, Social Democrats, Greens, ING, SPD, University of Duesseldorf, Thomson Locations: Berlin, Europe's, Ukraine, Saxony, Anhalt, United States, Bavarian, Federal, Germany, Europe, France, Italy, Spain, China

☆ Turn to this high-quality income play for the new year, Wells Fargo Investment Institute says
▼ + stars: | 2023-11-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors who hope to generate portfolio income while recession fears ramp higher can seek some safety in municipal bonds. Wells Fargo Investment Institute recently issued its fixed income guidance for 2024, forecasting "higher for longer" rates across the yield curve as the Federal Reserve remains vigilant to bring down inflation. Municipal bonds offer a combination of characteristics that appeal to investors: General obligation bonds are backed by the revenue of the municipality issuing them. "Going into a slowdown, you anticipate rates to fall," said Brian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute. The top marginal income tax rate is 13.3% in California and well over 10% in New York and New Jersey.

Persons: Brian Rehling, Jennifer Johnston, Franklin Templeton, Johnston Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, Fargo Investment Institute, AAA, Muni Bond ETF, Vanguard, Bond, Fed, New York Life Investments, Investors, York State, Metropolitan Transportation Authority Locations: Wells Fargo, Fargo, New, California, New York, New Jersey, York

[1/5] Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, U.S., November 22, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsNov 22 (Reuters) - Millions of Americans headed to the homes of friends and family on Wednesday, the day before the Thanksgiving holiday, on the busiest travel day since the pandemic, undeterred by a sprawling East Coast storm system that disrupted some flights and slowed traffic. Industry group Airlines for America forecast U.S. airlines would carry some 29.9 million passengers between Nov. 17 and Nov. 27. That figure would be an all-time high, 9% higher than last year and up 1.7 million passengers from the levels seen before the COVID-19 pandemic. Out West, a snowstorm in the northern and central Rocky Mountains and adjacent High Plans will likely affect Thanksgiving travel from Wednesday night through Friday, the weather service said.

Persons: Kevin Lamarque, Hopper, Abraham Lincoln, Daniel Trotta, Joseph Ax, Miral Fahmy, Jonathan Oatis Organizations: Washington Dulles International, REUTERS, Industry, Airlines, America, U.S . Transportation Security Administration, American Automobile Association, AAA, National Weather Service, Thomson Locations: Dulles , Virginia, U.S, East, COVID, Carolinas, Atlantic, New England, New Hampshire, Rocky

☆ Biden wants credit for lower Thanksgiving food and travel prices, as inflation drags on his reelection campaign
▼ + stars: | 2023-11-22 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

"Ahead of the holiday season, costs are down for everything from airline tickets and car rentals to toys and TVs," the White House wrote Tuesday on X. This year's Thanksgiving dinner "is the fourth-cheapest ever, as a percentage of average earnings" White House press secretary Karine Jean-Pierre said Monday. Nonetheless, the White House is taking a victory lap for the lower year-over-year prices, eager to credit Biden's economic agenda, dubbed Bidenomics, for the good news as the president runs for reelection. That's due in large part to a 5.6% year-over-year decrease in the average price of a frozen whole 16-pound turkey. This could be the lowest price for a Thanksgiving week since 2020, when the Covid pandemic cut demand for travel.

Persons: Joe Biden, Biden, Harris, Karine Jean, Pierre, Jean, — Organizations: Bell, White House, White, Biden, Harris Administration, The New York Times, American Farm Bureau Federation, Farm Bureau, AAA, Department, Labor's Locations: Washington ,, Ukraine, Airfares

On Tuesday, 2.6 million passengers were screened at airport security checkpoints, the highest ever for a Tuesday before Thanksgiving, according to the U.S. Transportation Security Administration. [1/10]People go to their flight gates ahead of the Thanksgiving holiday at O’Hare International Airport in Chicago, Illinois, U.S. November 22, 2023. The two major airports in Houston, Texas were expecting to shatter their record of air travelers from Nov. 16-28. Some 2.4 million people were expected to fly through Houston, up 11% from that period in 2022, the airports' management said. Out West, a snowstorm in the northern and central Rocky Mountains and adjacent High Plans will likely affect Thanksgiving travel from Wednesday night through Friday, the weather service said.

Persons: Mike Arnot, Vincent Alban Acquire, COVID, Hopper, Daniel Trotta, Allison Lampert, Joseph Ax, Gabriella Borter, Miral Fahmy, Jonathan Oatis, David Gregorio Our Organizations: National Weather Service, Airlines for America, U.S . Transportation Security Administration, Ontario . Buffalo Niagara International, O’Hare, REUTERS, American Automobile Association, AAA, Thomson Locations: U.S, United States, Canada, Niagara Falls, New York, Ontario, Chicago , Illinois, Houston , Texas, Houston, New England, New Hampshire, Rocky

☆ Gas prices could fall further as oil drops 4% on OPEC meeting delay
▼ + stars: | 2023-11-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Oil prices tumbled more than 4% Wednesday after a group of the biggest oil producing nations said they would delay a meeting, originally scheduled for Sunday, that was expected to discuss making further cuts to global supply. Brent crude, the global benchmark, and West Texas Intermediate (WTI) crude, the US benchmark, both fell over 4% late morning ET. Likewise, earlier on Wednesday, Bloomberg reported that Saudi officials were unhappy with some OPEC members’ levels of output. Both Brent and WTI prices have fallen for four consecutive weeks, pressured by record crude oil production in the United States and worries about waning global demand, particularly in China, the world’s biggest oil importer. Rystad still expects OPEC+ to reach an agreement at the meeting on November 30, but the process will likely be “challenging,” he added.

Persons: Brent, ” Craig Erlam, WTI, Jorge León, León Organizations: London CNN, Brent, West Texas, AAA, of, Petroleum, Bloomberg, Saudi, OANDA, OPEC, Rystad Energy Locations: OPEC, United States, China, Saudi Arabia, Russia, Nigeria

The late crush of holiday travelers is picking up steam, with about 2.7 million people expected to board flights on Wednesday and millions more planning to drive to Thanksgiving celebrations. The Transportation Security Administration predicts that it will screen 2.7 million passengers Wednesday and a record 2.9 million on Sunday, the biggest day for return trips. AAA says the nationwide average for gas was down to $3.29 a gallon on Tuesday, compared with $3.66 a year ago. Air travelers will enjoy lower prices too. Even so, the high cost of rent, food, health care and other expenses were weighing on people's travel plans.

Persons: Pete Buttigieg, TSA's, David Pekoske, ABC’s, ”, “, Airfares, Hopper, Jason McQueary, ’ ”, McQueary, Erin Hooley Organizations: Southwest Airlines, Airlines, Delta Air Lines, Federal Aviation Administration, New, Transportation, FAA, Transportation Security Administration, America, AAA, Drivers, Chicago O’Hare, _________ Associated Press Locations: United States, New York City, East Coast, snowplows, Denver, Chicago, Byron , Illinois

☆ U.S. Gas Prices Plunging as Holiday Travelers Hit the Road
▼ + stars: | 2023-11-22 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

U.S. gasoline prices are plunging just in time for Thanksgiving, and with the OPEC Plus oil cartel in apparent disarray, they could be heading lower for Christmas. But this week, they fell to levels not seen at this time of year since 2021, according to the AAA motor club, before the Russian invasion of Ukraine sent energy prices higher. “For consumers it’s a terrific tailwind,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. The price for a gallon of gas was $3.64 at the same time last year. Prices have dropped below $3 a gallon in more than a dozen states and are falling with particular speed in Montana, Florida and Colorado.

Persons: ”, Tom Kloza Organizations: OPEC, AAA, Oil Price Information Service Locations: Ukraine, Montana , Florida, Colorado

"A fiscal commission is direly needed," Republican Senator Mike Braun, a Budget Committee member, said in an interview. It circulated ideas from a dozen experts on how a commission could offer up solutions for taming deficits and debt. Other recommendations included subjecting high-income earners to more Social Security taxes and gradually raising the age for full retirement benefits to 69 from the current 67. A commission, said independent Senator Bernie Sanders, who caucuses with Democrats, would simply be "a backdoor way to get into cutting Social Security." Sanders embraced lifting the cap on taxable income to extend the life of the Social Security trust fund.

Persons: Kevin Wurm, Mike Braun, Braun, Moody's, Fitch, Michael Peterson, Peter G, Mark Zandi, Dana Peterson, Lori Esposito Murray, Joe Manchin, Mitt Romney, Bernie Sanders, Sanders, Richard Cowan, Moira Warburton, Grant McCool Organizations: U.S, Capitol, REUTERS, Rights, Congress, Treasury Department, Republican, AAA, Peterson Foundation, Conference Board, Democratic, Representatives, Social Security, Social, Thomson Locations: Washington , U.S

☆ Tesla launched its own car insurance. These drivers say it's a lemon.
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +20 min

Tesla Insurance, launched in 2019 by the electric-car company, has promised policyholders “vastly better” service than rivals, as Tesla chief Elon Musk put it in April 2022. “What do they have, three people answering phone calls?”Complaints about Tesla Insurance are drawing scrutiny from state regulators and the plaintiffs’ bar. And there’s no way to know exactly how many have been made against Tesla Insurance and how its record compares with competitors’. That fall, Tesla launched InsureMyTesla, a new insurance offering for U.S. Tesla owners, in partnership with Liberty Mutual Insurance Co. Lester F. Aponte, a Los Angeles attorney who signed up for Tesla Insurance in August, described a maddening ordeal to obtain proof of insurance.

Persons: Mark Bova, lurched, “ I’m, ” Bova, policyholders “, Elon Musk, Musk, Bova, he’s, Tesla, ”, Musk’s, Virginia –, Phil Fioresi, Tesla’s adjusters, adjusters, ” Zachary Kirkhorn, ” Kirkhorn, Teslas, InsureMyTesla, it’s, It’s, Chanda Santiago, ” Santiago, Lester F, Aponte, haven't, Understaffed, “, —, Policyholders, Jonathan Garcia, Garcia, adjuster, Scott Sawyer, Sawyer, Lauren Lee Sawyer, ” Sawyer, –, Steve Stecklow, Koh Gui Qing, Norihiko, Mike Scarcella, John Emerson, Brian Thevenot Organizations: Green, U.S . Army Special Forces, Tesla Insurance, Tesla, Reuters, Bureau, Twitter, U.S, SpaceX, Ohio Department of Insurance, California Department of Insurance, Data, AAA, The Auto Club Group, Liberty Mutual Insurance Co, Liberty Mutual, Markel, National Insurance Company, State National, State, Facebook, Better, policyholders, Better Business Bureau Locations: Maryland, That’s, California , Utah , Illinois, Virginia, South San Francisco , California, California, Draper , Utah, Texas, policyholders, InsureMyTesla, U.S, Illinois, Colorado, Ohio, Florida , Georgia, Washington, Santiago, Los Angeles, Draper, North Carolina, Riverside , California

DALLAS (AP) — Despite inflation and memories of past holiday travel meltdowns, millions of people are expected to hit airports and highways in record numbers over the Thanksgiving break. Sunday will draw the largest crowds with an estimated 2.9 million passengers, which would narrowly eclipse a record set on June 30. Scott Keyes, founder of the travel site Going, is cautiously optimistic that holiday air travel won’t be the same mess. From June through August — when thunderstorms can snarl air traffic — the rate of cancellations fell 18% compared to 2022. The airlines, in turn, have heaped blame on the Federal Aviation Administration, which they say can’t keep up with the growing air traffic.

Persons: Pete Buttigieg, Nature, ”, Patrick De Haan, ” De Haan, haven't, Scott Keyes, ” Keyes Organizations: DALLAS, Transportation Security Administration, AAA, . Transportation, Southwest, U.S . Department of Transportation, Federal Aviation Administration, Transportation, FAA, Airlines Locations: East Coast, snowplows, New York, Miami, Jacksonville , Florida, Delta

☆ Thanksgiving Travel Days Expected to Be Busiest in Nearly 20 Years
▼ + stars: | 2023-11-21 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

More holiday travelers will pack airports and highways this Thanksgiving as a drop in airfare and gas prices stokes the nation’s busiest travel time of the year. Even as travel demand holds strong, a severe weather forecast threatens to cause flight delays and traffic jams across swaths of the country. “For many Americans, Thanksgiving and travel go hand in hand, and this holiday, we expect more people on the roads, skies and seas compared to 2022,” Paula Twidale, senior vice president of AAA Travel, said in a statement. “Travel demand has been strong all year.”AAA, the automobile owners’ group that also tracks air travel, expects that 4.7 million people will fly between Wednesday and Sunday. That is an increase of 6.6 percent compared with last year, and the highest number of Thanksgiving air travelers in nearly two decades.

Persons: ” Paula Twidale Organizations: AAA Travel, ” AAA

☆ The money you are saving at the pump this holiday season is probably only temporary
▼ + stars: | 2023-11-21 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Goldman Sachs researchers are projecting oil prices to jump nearly 20% next year. AdvertisementAs the holiday season approaches, drivers are experiencing a welcome respite at gas stations, but those savings will likely go away in the new year. Last week, West Texas Intermediate crude, a benchmark for oil prices, dipped to approximately $73 per barrel, a significant 20% drop from its late September peak of $94. "The big surprise of 2023 is stronger than expected non-OPEC supply growth, which we think will slow heading into 2024," Struyven said. And what the US economy doesn't need in the near future is Americans tightening their budgets after their summer of fun and the holiday spending season.

Persons: Goldman Sachs, —, GasBuddy, Daan Struyven, CNBC's, Dado Ruvic, Struyven, David Kelly, We're, Kelly Organizations: Service, West, AAA, OPEC, Reuters, US Strategic Petroleum Reserve, Biden, Strategic Petroleum Reserve Energy Department, Strategic Petroleum Reserve, Morgan Asset Management Locations: West Texas, OPEC, Ukraine, Russia, Saudi Arabia

☆ Keeping the Peace With Road Trip Games
▼ + stars: | 2023-11-20 | by ( Sam Corbin | More About Sam Corbin | ) www.nytimes.com time to read: +1 min

And for those opting to join the hordes, these numbers may translate to spending several hours in a car with family members. That way madness lies — and the best of us might lose our wits, but for the grace of car games. We shouldn’t be looking at our devices in cars, anyway, and friendly analog competition can make time on the road feel like a passing memory. In my family of highly competitive wordsmiths, car games could be a source of either entertainment or ire depending on the rules: Whenever the “X” of crosswalks wasn’t fair alphabet game, things got ugly. After all, the only real game of the car ride is keeping everyone on speaking terms until you reach your destination.

Organizations: AAA

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