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Deutsche Bank has reduced its 2025 US light vehicle sales forecast by 500,000 to 15.4 million due to impending tariffs affecting auto supply chains and prices. Analysts predict a short-term sales boost as consumers rush to purchase before price hikes, but a significant decline is expected afterward.In the tech sector, Palantir's shares fell amid concerns over government spending cuts, while Moderna's stock dropped 10% following the resignation of the FDA's vaccine chief, raising questions about vaccine safety. Overall, US stocks faced a slump, particularly in consumer discretionary and tech sectors, as fears of an economic slowdown intensified.
An American Airlines passenger received a $100,000 refund instead of the expected $1,000, leading to a chaotic four-week ordeal. The airline mistakenly charged $28 million to their American Express account, resulting in account suspension due to high credit exposure. After multiple errors and escalations, the situation was resolved by March 24, with both companies apologizing and offering compensation.
The trend of airlines charging for checked baggage is intensifying, with Southwest Airlines recently announcing a shift to this model to enhance profitability. This aligns with practices already adopted by major US carriers like American Airlines, Delta, and United, particularly for domestic and economy fares.
Elon Musk's aides managing the U.S. Office of Personnel Management have restricted access for career civil servants to critical federal data systems, raising concerns about oversight and cybersecurity risks. This move aligns with efforts to reduce the civilian workforce, reflecting broader decisions from the Trump administration. Despite significant changes, including the installation of sofa beds for continuous work, there has been no official comment from Musk or OPM representatives.
U.S. stock markets rallied on Tuesday, with the S&P 500 up 0.8% and the Dow Jones Industrial Average gaining 273 points ahead of an early closure at 12 p.m. CT for Christmas Eve. Notable gains included Tesla rising 5.1% and Broadcom increasing by 2.9%. Markets will remain closed on Wednesday, with several economic reports expected later in the week.
The stock market saw gains during the Christmas Eve trading session, with the Dow Jones rising over 175 points and the Nasdaq composite up 0.9%. Adtalem Global Education and Fortinet are nearing buy points, while American Airlines faced a temporary grounding of flights due to a technical issue. Major tech stocks like Nvidia and Amazon also showed strength, contributing to the overall positive market sentiment.
Stock futures were mixed ahead of a holiday-shortened trading session, with the Dow down 0.1% while the S&P 500 and Nasdaq 100 rose 0.2% and 0.3%, respectively. American Airlines faced a slight dip after grounding flights due to a technical issue, while chipmakers Broadcom and AMD gained on positive analyst sentiment regarding their AI prospects.Treasury yields increased, with the 10-year yield at 4.62%, following the Federal Reserve's recent interest rate outlook. Bitcoin stabilized around $94,000 after a recent drop, while oil futures rose slightly to about $69.75 a barrel, and gold remained steady at $2,630.
UBS has raised its price target for American Airlines to $19, citing the exclusive partnership with Citi for AAdvantage credit cards starting in 2026 as a key driver for loyalty growth and improved financial stability. The airline's EPS forecast for December has also been increased, reflecting positive momentum in the industry. Analysts express optimism about the potential for enhanced profitability, despite caution regarding high debt levels and new distribution costs.
Southwest Airlines and American Airlines have raised their fourth-quarter forecasts due to strong demand and higher fares, leading to a surge in their stock prices. Southwest anticipates a unit revenue increase of 5.5% to 7%, while American expects a revenue rise of up to 1% compared to last year. Additionally, American has appointed Citi as its sole credit-card provider, replacing Barclays.
American Airlines has finalized a credit card partnership with Citigroup, ending its relationship with Barclays. The airline anticipates a 10% annual growth in payments from co-branded credit card deals, which generated $5.6 billion in the past year. Transitioning of Barclays cardholders to Citi will begin in 2026, with Citi also managing credit card promotions.
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