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Global Travel Industry Reels as Middle East Conflict Triggers Deep Market Shock

Stranded passengers wait near Emirates Airways customer service office at I Gusti Ngurah Rai International Airport in Kuta, Bali, Indonesia. Travel stocks have plunged sharply as the escalating conflict involving the US, Israel, and Iran triggers the most severe disruption to global aviation since the pandemic. Major Middle Eastern hubs—including Dubai, the world’s busiest international airport—have remained closed for days, stranding tens of thousands of passengers and forcing airlines to reroute or cancel flights on a massive scale.  Oil prices have surged by about 7% amid rising geopolitical tensions, adding further pressure to airlines already grappling with operational chaos. Higher fuel costs are expected to squeeze margins across the sector, with analysts warning that the ripple effects could last for weeks.  European travel giants have been hit especially hard. Shares in TUI dropped 8.5% in early trading, while Lufthansa and other major carriers saw declines of up t...
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US Stock Futures Rise as Techs Power Higher Again

 

US stock futures rose on Monday to put the S&P 500 on track for another record high, as investors became more upbeat about the health of the economy and looked to coming earnings for signs of an AI boom for techs. 

The S&P 500 futures gained 0.3%, after the index notched its first record close since January 2022 on Friday. Dow Jones Industrial Average futures added roughly 0.2%, while those on the tech-heavy Nasdaq 100 jumped 0.6%. 

An AI-fueled surge in tech shares has helped pull stocks out of their early-2024 doldrums, bringing the major indexes into positive territory for January. Given that, quarterly results from the likes of Netflix and Tesla later this week will be closely watched, as how tech earnings perform could well indicate where the market heads in the short term. 

At the same time, the Federal Reserve officials whose comments have buffeted stocks will stay quiet ahead of policymakers’ next meeting on Jan. 30. But readings on GDP and the Fed’s preferred inflation gauge later in the week could shed light on the debate that has been driving markets: when the Fed will pivot to cutting interest rates.


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