The Street
  • 2 days ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Delta is bullish heading into 2025.

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Sports
Transcript
00:00I'm Conway Gaines reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Stocks were roughed up Friday as a stronger-than-expected jobs
00:07report pushes hopes for the next interest rate cut
00:10all the way to October 2025.
00:14The US economy added 256,000 jobs in December.
00:17That's the strongest hiring since March
00:19and way past forecast.
00:22The unemployment rate fell to 4.1%,
00:25while wages jumped 3.9% from a year ago.
00:29Turning to other business headlines,
00:31there are signs of strength coming from the airline sector.
00:34Delta Airlines is predicting 2025 will be a good year.
00:38CEO Ed Bastian told investors, quote,
00:40we expect strong demand for travel
00:43to continue with consumers increasingly
00:45seeking the premium products and experiences
00:48that Delta provides.
00:50The optimism is fueled by trends Delta
00:53saw during the fourth quarter.
00:54Sales were higher than expected thanks
00:56to a pickup in business travel.
00:58And as leisure travelers continue
01:00to choose pricier options, Delta has reconfigured its planes
01:04to add roomier seating near the front of the plane, which
01:07fetch a higher ticket price.
01:10Revenue from those seats, along with business class,
01:12is outpacing the rest of the plane.
01:15Delta is not alone.
01:17The entire industry is enjoying a wave of higher pricing power
01:22as demand outstrips supply.
01:24The YOLO, or You Only Live Once, effect
01:27that fueled travel during the pandemic has yet to abate.
01:31With wages up, the job market resilient,
01:33and middle to higher income consumers feeling wealthy
01:36due to stock market and home price gains,
01:39industry experts expect this travel boom to continue.
01:42Delta is so optimistic that it is forecasting 2025 profits
01:47will be the best in the company's 100-year history.
01:51That'll do it for your daily briefing
01:52from the New York Stock Exchange.
01:54I'm Conway Giddens with The Street.

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