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Airlines Slash Flights as Jet Fuel Costs Surge, Squeezing Travellers and Markets

  Airlines Slash Flights as Jet Fuel Costs Surge Canadian travellers are facing fewer flight options and higher fares as jet fuel prices spike to multi‑year highs , forcing Air Canada and Air Transat to cut capacity across key routes. The surge in fuel costs is tied directly to the ongoing Iran conflict , which has disrupted global oil flows and pushed energy markets into another period of volatility. Air Transat is reducing service to Europe and the Caribbean, while Air Canada is suspending several regional and international routes it now considers unprofitable. For consumers, this means higher ticket prices, more crowded flights, and fewer choices heading into the summer travel season . Impact on the Economy and Inflation Airlines passing fuel costs to passengers adds fresh pressure to Canada’s already‑stubborn inflation outlook. Travel inflation — which had been easing — is now expected to rise again, complicating the Bank of Canada’s path toward rate cuts. Higher travel costs a...
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Stock Futures Point to Continued Record-Setting Run on Wall Street

                                        

In a bullish start to the day, US stock futures are indicating a higher open as Wall Street aims to extend its record-setting run. Here are the key points:

  1. Futures on the S&P 500 (symbol: ^GSPC) have risen nearly 0.4%.
  2. Dow Jones Industrial Average futures (symbol: ^DJI) are up by about 0.2%.
  3. Nasdaq Composite futures (symbol: ^IXIC) lead the way, rising approximately 0.5%.

Despite a brief pause in the rally on Monday, where all three major indexes dipped slightly, the overall mood remains bullish. Notably, Oppenheimer Asset Management strategist John Stoltzfus has raised his 2024 S&P 500 price target to a Street-high 5,500.

Economic data is in focus today, with readings on durable goods orders and US consumer confidence due. Additionally, the Case-Shiller home price index will be released. However, the main event awaits us on Friday when the government will publish the Personal Consumption Expenditures Price Index (core PCE growth)—the Federal Reserve’s preferred gauge of inflation pace.

In company news, Trump Media & Technology Group Corp. (symbol: DJT) is making its Wall Street debut after merging with Digital World Acquisition Corp. Shares of Trump Media & Technology Group Corp. have surged as much as 20% in premarket trading.

Stay tuned for more market updates as the week unfolds.

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