Articles by Daniel Marsh
Norse Atlantic Axes LA Summer Routes Amid Fuel Price Surge, Seeks $180M Lifeline
Norse Atlantic Airways has scrapped its entire summer schedule from Los Angeles to European hubs, blaming a sharp rise in jet fuel prices. The airline simultaneously announced a $110 million rights issue and secured a $70 million bridge loan.
Mortgage Rates Hold Near Recent Lows, Yet Spring Housing Demand Remains Subdued
Mortgage rates stabilized near recent lows, sparking a 5.1% weekly jump in refinance applications. However, purchase demand dipped 1% as builder confidence fell to a seven-month low amid economic uncertainty.
S&P 500 Hits Record Amid Iran Talks, Bank Earnings; Dow Lags
The S&P 500 climbed to a new intraday record Wednesday, buoyed by optimism over potential U.S.-Iran talks and robust earnings from major banks. The Dow Jones Industrial Average, however, trailed the broader market, declining roughly 0.4%.
S&P 500 Reaches New High Amid Strong Earnings, Geopolitical Tensions
The S&P 500 climbed to a new intraday peak on Wednesday, its first since the U.S.-Iran conflict began, while the Nasdaq gained nearly 1%. The advance was fueled by strong bank earnings and hopes for diplomatic talks.
Mortgage Activity Edges Higher as Rates Dip, Yet Housing Market Momentum Falters
Mortgage applications increased last week as interest rates declined to a one-month low, though demand for home purchase loans softened. Existing-home sales fell in March, highlighting ongoing market headwinds.
March CPI Surge Dampens Fed Rate Cut Expectations, Fueling Market Uncertainty
A sharp rise in consumer prices during March, led by a historic jump in gasoline costs, has clouded the Federal Reserve's policy outlook, pushing back expectations for interest rate reductions.
American Airlines Soars on Merger Speculation with United
American Airlines shares jumped roughly 8% Tuesday following a Reuters report that United Airlines CEO Scott Kirby raised the idea of a merger with American during a February meeting with former President Donald Trump. No formal talks have been confirmed.
Stocks Rally on Diplomatic Hopes, Soft Inflation; S&P 500 Nears Record
Major U.S. equity indices advanced sharply Tuesday, with the S&P 500 closing within 0.2% of its January record. The rally was fueled by falling crude prices amid potential diplomatic talks with Iran and cooler-than-expected wholesale inflation data.
Risk Rally Erupts on Diplomatic Hopes, Pressuring Dollar and VIX
Markets staged a broad risk-on rally Tuesday, with the dollar and volatility gauges sinking on hopes for renewed U.S.-Iran negotiations. The S&P 500 climbed over 1% while Brent crude dropped sharply.
Painted Tree Boutiques Ceases Operations Nationwide, Vendors Scramble
Painted Tree Boutiques has shuttered all its U.S. stores, directing vendors to retrieve their merchandise. The Arkansas-based chain operated over 60 locations using a shared retail model.
Robinhood Jumps on Bullish Bernstein Call, Faces Legal and Revenue Tests
Robinhood shares rallied sharply following a bullish analyst note from Bernstein, which maintained a $130 price target. The gains come despite a more cautious view from Truist and ahead of pivotal first-quarter earnings and a key legal hearing.