✈️ How Will THIS Change The Airline Industry?

Good morning. US stock futures ticked higher in Wednesday morning trading as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation.

✈️ US DoT approves airline merger

📝 Our report: Buckle up for some island-hopping synergy! Alaska Airlines is gearing up to finalize its $1.9 billion merger with Hawaiian Airlines, now that the Department of Transportation has given the green light, the company revealed in a regulatory filing.

 🔑 Key points:

• Alaska is the fifth-biggest airline in the U.S. and Hawaiian is No. 10. The combination will solidify Alaska’s position as a stronger No. 5, which is important for the carrier to remain competitive with major U.S. carriers American, Delta, United and Southwest.

• The combination of Alaska Airlines and Hawaiian Airlines is important from a freight perspective because Alaska will take over cargo transportation for e-commerce giant Amazon.

• The deal will give Alaska the opportunity to take some of Hawaiian’s long-range Boeing 787s and Airbus A330s and run them out of Seattle to Asia and Europe, but the real impetus for the merger was beating back Southwest Airlines. Both airlines serve Hawaii but lost market share when Southwest began serving the state in 2019.

💡 So what: The merger between Alaska Airlines and Hawaiian Airlines could significantly impact the U.S. aviation industry by creating a stronger regional carrier with an expanded route network, particularly to and from Hawaii and the West Coast. This consolidation may lead to more streamlined services, offering passengers better connectivity and possibly more competitive fares. However, it also raises concerns about reduced competition on certain routes, which could result in higher prices. The move reflects a broader trend of industry consolidation aimed at increasing profitability and competitiveness in an increasingly challenging market.

Wednesday - FOMC Interest-Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 Carl Icahn shares investment traps and tips!

🏢 Small business stressing you out? Avoid burnout by following these tips!

🧑🏽‍💼 Trouble feeling motivated at your job? Here’s how you can turn that around!

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🎵 More and more Americans consume news on TikTok

WHAT: A new survey shows that TikTok is becoming the go-to news source for a growing number of Americans, especially young adults. About 17% of US adults say they regularly get news from the site owned by China-based ByteDance Ltd. — a fivefold increase from 2020, according to survey data from Pew Research.

WHY: The increase is notable given TikTok’s standing in the US, where lawmakers are actively trying to ban the app for fear that its Chinese parent company could abuse user data or try and sway political opinions through the app’s feed. Some elected officials worry that TikTok’s ties to China could affect the app’s algorithm, which may subtly influence the content users see and shape Americans’ views on important issues.

🏬 Walmart set to raise worker pay

WHAT: Sam's Club, owned by Walmart, announced plans to boost hourly wages for nearly 100,000 employees as part of a shiny new compensation plan just in time for the holiday hustle. Wages for its entry-level workers will now start at $16 per hour from $15 that was set three years ago, it said. The company also said hourly wages will grow at a "faster" clip, rising to between 3% and 6% based on years of service that would allow workers to quickly attain the maximum pay rate for their given position.

WHY: The warehouse club chain, a rival to membership-only retailer Costco, has seen sales growth in almost every category in the past few quarters, after underperforming for years.

💰 The world’s first…trillionaire?

WHAT: Elon Musk’s ever-expanding empire — from EVs and social media to space rockets and even brain implants — might just put him on track to become the world’s first trillionaire. Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027. Informa notes that Musk’s net worth has been growing rapidly at an average rate of 110% per year, making him the “clear favorite” to hit the $1 trillion first.

WHY: Whether Musk gets to the trillion-dollar mark first — or at all for that matter — will depend in large part on the future of his biggest success: Tesla. The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710 billion.

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