American Airlines ground stop lifted
American Airlines recovered in Tuesday’s premarket after a ground stop impacting flights was cancelled. Shares were last down 0.7%.
— Alex Harring
American Airlines shares slid more than 3% in premarket trading after the company said Tuesday morning that an unspecified technical issue has impacted all flights.
American has asked for a nationwide ground stop, according to the Federal Aviation Administration. This comes amid the busy holiday travel season.
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American shares, 1-day
Makoto Uchida, Director, Representative Executive Officer, President and CEO of Nissan Motor Corporation, and Toshihiro Mibe, Director, President and Representative Executive Officer of Honda, react during a joint press conference on their merger talks, in Tokyo, Japan, December 23, 2024.
Kim Kyung-hoon | Reuters
U.S.-listed shares of Honda Motor added more than 2% in Tuesday’s premarket trading, building on its recent rally.
Honda has popped after announcing official talks to merge with Nissan. The automaker’s U.S.-listed shares have climbed more than 12% since the current trading week began.
— Alex Harring
It’s been a rocky December for the SPDR S&P Retail ETF (XRT), which is off more than 3% this month alone.
Notable losers in the ETF during the period include Signet Jewelers, down 19%, and Foot Locker, which is off more than 14% in December. Clothing company Guess is also off 13% this month.
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The SPDR S&P Retail ETF (XRT) in the past month
The inflationary pressures that could likely come as a result of President-elect Donald Trump’s tariff plans may not be all that impactful, according to Infrastructure Capital Advisors’ Jay Hatfield.
The firm’s CEO thinks investors may be missing the deflationary element present in the dollar’s gains. His remarks come as the dollar index, which inched higher on Monday, has risen more than 6% year to date.
“In general, investors are too optimistic about growth and too pessimistic about inflation,” Hatfield said in an interview with CNBC. “It’s kind of irrational for investors to fear inflation from tariffs, but yet the dollar has already wiped out all of the potential – or most of the potential – increase in prices.”
Late last month, Trump vowed to raise tariffs by an additional 10% on goods from China, as well as a 25% duty on goods from Mexico and Canada.
During his campaign for president, Trump threatened imposing a tariff of 60% on Chinese goods.
“If the Trump administration raises tariffs 10%, but the dollar is appreciated 10%, that shouldn’t have any significant impact,” Hatfield continued.
— Sean Conlon
U.S. stock futures opened relatively unchanged Monday evening.
S&P 500 futures, as well as Nasdaq 100 futures, traded just above the flatline. Futures tied to the Dow Jones Industrial Average gained 31 points, or about 0.1%.
— Sean Conlon
