Friday, May 12, 2023

Barron's Market Data Center

Overview1:39 PM EDT 5/12/23

LastChange%Chg
DJIA33176.40-133.11-0.40
S&P 5004107.28-23.34-0.57
Nasdaq Composite12235.21-93.30-0.76
Japan: Nikkei 22529388.30261.580.90
UK: FTSE 1007754.6224.040.31
Crude Oil Futures70.28-0.59-0.83
Gold Futures2019.80-0.70-0.03
Yen135.721.160.86
Euro1.0855-0.0062-0.57

Nasdaq Composite

10:00 am12:00 pm2:00 pm1220012250123001235012400
LastChg%Chg
DJIA33176.40-133.11-0.40
Nasdaq Composite12235.21-93.30-0.76
S&P 5004107.28-23.34-0.57
China: Shanghai Composite3272.36-37.19-1.12
Japan: Nikkei 22529388.30261.580.90
UK: FTSE 1007754.6224.040.31
LastChg%Chg
Euro (EUR/USD)1.0855-0.0062-0.57
Japanese Yen (USD/JPY)135.721.160.86
U.K. Pound (GBP/USD)1.2454-0.0056-0.45
Swiss Franc (USD/CHF)0.89770.00360.40
Chinese Yuan (USD/CNY)6.95820.00950.14
U.S. Dollar Index102.640.580.57
LastChg%Chg
Crude Oil Futures70.28-0.59-0.83
Brent Crude Futures74.39-0.59-0.79
Gold Futures2019.80-0.70-0.03
Silver Futures24.155-0.269-1.10
DJIA Futures33259-112-0.34
S&P 500 Futures4124.25-19.50-0.47

Stock Movers1:38 PM EDT 5/12/23

Includes common stocks, ADRs and REITs listed on NYSE, Nasdaq or NYSE American with a prior day close of $2 a share or higher and volume of at least 50,000
VolumeLastChg% Chg
ARS Pharmaceuticals Inc. (SPRY)50.4M7.983.4676.66
AirSculpt Technologies Inc. (AIRS)1.1M6.942.0541.92
Blue Bird Corp. (BLBD)2.4M26.497.1737.11
Arlo Technologies Inc. (ARLO)4.4M9.102.0529.08
Jupiter Wellness Acquisition Corp. Cl A (JWAC)1.8M6.471.3526.36

ETF Movers1:38 PM EDT 5/12/23

Calendars & Economy5/12/23

12-May 10:00 AM EDT
University of Michigan Survey of Consumers - preliminary
Period
May
Forecast
63.0
Actual
57.7
16-May 08:30 AM EDT
Advance Monthly Sales for Retail & Food Services
Period
Apr
Forecast
Actual
16-May 09:15 AM EDT
Industrial Production & Capacity Utilization
Period
Apr
Forecast
Actual
17-May 08:30 AM EDT
New Residential Construction - Housing Starts and Building Permits
Period
Apr
Forecast
Actual
17-May 10:30 AM EDT
EIA Weekly Petroleum Status Report
Period
05/12
Forecast
Actual
18-May 08:30 AM EDT
Unemployment Insurance Weekly Claims Report - Initial Claims
Period
05/13
Forecast
Actual
18-May 10:00 AM EDT
Existing Home Sales
Period
Apr
Forecast
Actual
18-May 10:30 AM EDT
EIA Weekly Natural Gas Storage Report
Period

05/12 

Southwest Pilots Vote To Authorize Strike Ahead of Summer Travel Season

 

RELATED 

Southwest Airlines pilots vote to authorize a strike

The move strikes another note of uncertainty for the summer travel season

Photo
Photo (c) Michael Valdez - Getty Images

Just ahead of the Memorial Day weekend, summer travel challenges may be building. Southwest Airlines pilots have voted to authorize a strike if contract negotiations fail.

Earlier this month pilots at American Airlines, who are also in contract negotiations with the carrier, took similar action.

That’s not to say pilots at either airline will actually go on strike, but it’s enough to make travelers booked on either of the airlines later in the summer nervous. Airline capacity has already been reduced because of fewer pilots. A reduction in American and Southwest flights would place added strain on the system.

At this point, almost no one is anticipating a Southwest strike, even though 99% of pilots gave the green light. Industry experts say the strike vote is likely a muscle-flexing move to put pressure on the airline to agree to a favorable deal. For its part, the airline doesn't appear worried.

“We are staffed and prepared to welcome travelers for their summer travel plans,” Southwest said in a statement.

The airline industry is different from other types of businesses when it comes to work stoppages. Under federal law, union employees at the nation’s airlines can’t walk out unless a mediator has determined further negotiations are pointless.

A number of grievances

Still, Southwest Airlines Pilots Association (SWAPA) President Casey Murray suggests the union has a number of grievances and will drive a hard bargain.

 "The lack of leadership and the unwillingness to address the failures of our organization have led us to this point,” Murray said. “Our pilots are tired of apologizing to our passengers on behalf of a company that refuses to place its priorities on its internal and external customers."

New rules proposed by the U.S. Department of Transportation (DOT) may also put added pressure on the two airlines. DOT has started the rulemaking process with the goal of requiring airlines to give stranded passengers compensation and reimbursement for meals, hotels, and rebooking when the airline is responsible for flight cancellations. 


20 hours ago — Southwest said the vote result will not impact its operations: "We are staffed and prepared to welcome travelers for their summer travel plans.".
22 hours ago — In its own statement, the Dallas-based airline said the strike vote will not have an impact on its summer travel plans, noting that a strike ...
12 hours ago — Southwest Airlines pilots voted to authorize a potential strike, adding a new challenge to an already difficult year for the carrier.
2 hours ago — Southwest pilots authorize strike ahead of summer travel season – union slams airline for 'operational disasters,' 'lack of leadership'.

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