Lebeau a moment ago on the airlines and he is back with breaking news regarding american. Take a look at shares of american, the airline is announcing starting on july 1st, starting next wednesday, it will fill its planes completely remember until now it has capped its load factor or the percentage of seats that it would fill on a plane, it would cap it at 70 . Thats going to end as of next wednesday, also adding about 1,000 flights to its schedule in july so this is american saying weve got more people flying, weve got more demand and its time for us to fill these planes all the way. They stress people are still going to be required to wear masks, they will still be pushing the fact that theyre sanitizing planes in between every flight, but the time has come for them to sell every seat, fill every seat and no longer guarantee its capped at a 70 load factor. Guys, this is a day with a lot of airline news between this, the unions asking for another bayout and the airline ceos meeting wi
Peter navarro. It has been a huge swing s p futures up, nasdaq up by 62. The nasdaq up seven sessions in a row. S p is up. Watching for the month of june, all three of these is up on track to be the third month in a row taking a look at treasury yields youll see the 10year is yielding 0. 715 . Crude oil up above 40 for the First Time Since the lockdown in early march. Getting to the story it has been a wild ride overnight. Last night on fox news, white house trade advisor Peter Navarro responded to a question about the china trade deal saying it is, quote, over. At that point, futures plunged about 400 points but then recovered after he later clarified his comments saying it had nothing to do with the phase 1 trade deal which continues to be in place. He was speaking to the quote lack of trust of the Chinese Party after they lied about the origins of the chinese virus. President trump posting a tweet saying the china trade deal is fully in tact. The lesson is that the move is a good re
After jay powell made down beat comments about the economy just as coronavirus cases were spiking in the south and the west today the fed chief once again made it clear that the economy remains weak and were seeing more gigantic coronavirus spikes in the south and west this time the dow surged 527 points as it jumped 1. 90 , nasdaq pole vaulted 1. 57 . How is this possible how is it possible goes down gigantically, same thing, next time goes up two key differences. First the fed is planning to buy individual Corporate Bonds to ensure Companies Stay afloat if we had survival of the f fittest, powell is doing everything to limit carnage, survival of everybody. Second, we had the biggest sales gain in history up 17 in may. That sounds very vish we have a super accommodating fed at the same time were Getting Better data which means the recovery has staying power and almost broke oil company or restaurant chain wants to issue bonds, the fed would probably buy them i know there are a lot of
Talking with andrew about what exactly got washed out yesterday. Hard to say a lot when hertz is up 50 premarket. I mean, look, it is kind of a comedy of errors, no insult to the board. Really there is a Bankruptcy Code and maybe hertz management got permission in the old days when you went bankrupt there would be a little bit of a stump of stock so that you could go and sell it and show the irs that you had taken the full loss carl icahn sold a ton of the stock in the 70s, he sold 38 . I think if he had known that there would suddenly be a new stock he would have hit that bid. If i were him id sue. Id sue right now. I would just hire a lawyer and sue because he sold at what the company was advertising as a bankrupt price where the common stock was and he has i think a right to be able to claim 38 of this money and i urge him to do so, to hire a lawyer and get the money because this is just ludicrous. Well see what the court says i think theyve got to get to 4, right, to get to a billi
Welcome to the Program German Industrial Power siemens says it will stay involved in a controversial coal mine in australia the project has faced massive critic criticism by environmentalists as australia is struggling to contain catastrophic bushfires that many linked to Climate Change of head of the company says getting out of the 18000000 euro contract to supply Rail Infrastructure would have been almost impossible. As late as last week siemens chief joe kayser seemed happy to play the environmental awareness card but balancing green issues on the realities of business has proven too much of a challenge after a special meeting on saturday qaiser took to twitter to say siemens had to fulfill its contractual obligations. To keep its promises and make sure its customers saw it as reliable and on the case the indian conglomerate adani would build a mine in australia with or without siemens. The carmichael coal mine will be one of the biggest in the world siemens is providing signalling