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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

  U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8% , powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results. Key Drivers: Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains. The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually. Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its ...

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Delta Airlines Increases Checked-Baggage Fees by 17%


              

In a move that may prompt travelers to reconsider their packing strategies, Delta Airlines has just raised the cost of checking your first bag by 17%. The previous fee of $30 for domestic flights now increases by $5, bringing it to $35. Additionally, the charge for a second checked bag has risen from $40 to $45.

Delta’s decision follows similar fee hikes by other major U.S. carriers. Both American Airlines and United Airlines announced their own increases in February, and smaller carriers like Alaska Airlines and JetBlue Airways have also adjusted their fees recently. This trend of carriers adjusting their pricing in response to one another is often referred to as “herd instinct” by behavior analysts.

While passengers with status perks can still check their first bag for free, and those with first-class tickets can check two bags without charge, the majority of travelers will feel the impact of these fee adjustments. Baggage fees have become a reliable source of revenue for airlines, especially since their introduction in 2008 when jet fuel prices were soaring. In 2022, U.S. airlines collectively earned $6.8 billion from checked-bag fees, with American and United leading the way at $1.4 billion and $1.1 billion, respectively. Delta followed closely in third place with $979.4 million.

As travelers prepare for their next flights, it’s essential to stay informed about these changes and consider how they might affect travel budgets. Whether you’re a seasoned flyer or a first-time traveler, keep an eye on those baggage fees—they’re more significant than ever.


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