Justice Department wins lawsuit to undo JetBlue, American Airlines partnership in the Northeast
2023-05-20 04:42:39
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know today Shaken by geopolitical tensions U.S. stocks fell on fears over growing geopolitical tensions. The S&P 500 slipped 0.93%, the Dow Jones Industrial Average lost 0.41% and the Nasdaq Composite retreated 1.53%. The pan-European Stoxx 600 dropped 0.38%. Meanwhile, euro zone inflation fell to 1.8% in September, according to flash data from Eurostat. The reading was 2.2% in August. Escalating Middle East conflict Prices of WTI and Brent oil rose more than 2.4% as conflict escalated in the Middle East. In a statement released Tuesday, Israel’s Defense Forces said they began “ground raids” against “terrorist targets” in southern Lebanon. On the same day, Iran launched a ballistic missile attack on Israel. There were no known fatalities in Israel from the attack. Widespread effect of port strike Members of the International Longshoremen’s Association started striking Tuesday, halting activity at U.S. East Coast and Gulf Coast ports, which stretch from Maine to Texas. If the strike drags on, global supply chains and the economy could take a beating. That runs the risk of causing inflation to flare up again. Microsoft’s growing investments In its July annual report, Microsoft said its yet-to-commence finance leases had ballooned to $108.4 billion, up $20.6 billion from the quarter before. A finance lease lets a company pay for an asset over years. Microsoft said in its filing these costs were “primarily for datacenters.” Microsoft’s capital spending also rose to $19 billion from $14 billion in the March quarter. It’s a huge ramp up in spending, but one analyst isn’t too fazed about it. [PRO] Options trade for overbought signs The S&P finished September on a high, extending its year-to-date gains to 19.7% at the end of Tuesday. There are some indications that can determine if this furious rally has qualities of stocks being overbought. If those conditions unwind, causing the stock market and this key sector to cool off, there’s a winning options trade to play.
