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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Air Transat Grounds Flights as Pilot Strike Looms, Focuses on Repatriating Passengers

 

An Air Transat plane is seen as an Air Canada plane lands at Pierre Elliott Trudeau International Airport in Montreal on Thursday, May 16, 2019.

Air Transat has begun suspending flights and arranging special services to bring customers home as contract negotiations with its pilots remain unresolved. The move comes after the Air Line Pilots Association (ALPA), representing 750 pilots, issued a 72-hour strike notice, raising the possibility of a work stoppage as early as December 10, 2025.

The Montreal-based leisure airline, which typically operates more than 500 weekly flights to destinations in the Caribbean, Mexico, and Europe, announced that it would gradually wind down operations between December 8 and 9. To prevent passengers from being stranded abroad, the company scheduled additional repatriation flights ahead of the strike deadline.

Negotiations between Air Transat and the union have been ongoing since last winter, but no agreement has been reached. Pilots are seeking a “modern contract” with industry-standard pay, benefits, and job security, replacing the decade-old collective agreement signed in 2015. While the airline has stated that “progress” was made in recent talks, both sides remain at an impasse.

Air Transat emphasized that its priority is to minimize disruption for customers, offering flexibility and refunds for affected travelers. The company also noted that it is working “around the clock” to reach a deal and avoid a full shutdown.

For now, passengers face uncertainty as the strike deadline approaches. The outcome of negotiations will determine whether Air Transat can resume normal operations or if the suspension will extend further into the busy holiday travel season.

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