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Record Thursday: Dow hits 40,000-point mark, all three indexes look set to extend record highs
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National, The Street

Record Thursday: Dow hits 40,000-point mark, all three indexes look set to extend record highs

By Martin Baccardax | The Street U.S. stocks nudged higher Thursday as investors looked to extend a springtime rally that has lifted all three major benchmarks to all-time highs following a muted inflation report and renewed bets that the Federal Reserve will cut interest rates. The Dow Jones Industrial Average breached the 40,000-point mark for the first time on record, while also setting an all-time best for the time it took to rise 10,000 points. The Dow passed the 30,000 point mark on November 24, 2020, or 1,269 days ago. That's just inside the 1,442 days the Average took to climb from 20,000 points, which it hit on December 13, 2016.  READ THE FULL STORY AT THE STREET
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S&P 500 hits record high, Dow eyes 40,000 for first time on slowing inflation data
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National, The Street

S&P 500 hits record high, Dow eyes 40,000 for first time on slowing inflation data

By Martin Baccardax | The Street U.S. stocks powered higher Wednesday while Treasury yields and the dollar slipped, as investors picked through a crucial April inflation report that could add further fuel to the market's recent spring rally. The S&P 500 is now trading 0.71% higher on the session at 5,283.90 points, with a new intra-day peak of 5,284.50 points, while the Nasdaq is up 0.84% at 16,165.17 points. The Dow is now just 233 points from breaching the 40,000 mark, having risen 0.5% from last night's close, with Salesforce CRM, Home Depot HD and UnitedHealth Group UNH pacing gains.  READ THE FULL STORY AT THE STREET
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Planet Fitness makes a risky pricing move that can discourage membership
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National, The Street

Planet Fitness makes a risky pricing move that can discourage membership

By Patricia Battle | The Street Planet Fitness  (PLNT) is making a major change that it hasn’t made in 26 years, and customers may not be too happy about it. The company announced during a recent earnings call that it will be hiking the price for its cheapest membership by $5 after piloting the change in different markets and hinted that more price increases may be on the way. “For the past several months, we have had three different groups of stores testing three different prices for our Classic Card membership,” said Planet Fitness Chief Financial Officer Tom Fitzgerald during a May 9 earnings call. “Based on those test results, we have decided to increase the price from $10 to $15 to further enhance the average unit volumes for our stores.” The price in...
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Southwest Airlines makes a huge change to its loyalty program
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National, The Street

Southwest Airlines makes a huge change to its loyalty program

By Daniel Kline | The Street Southwest Airlines does not offer some of the perks that other airlines offer.  The airline does not offer business- or first-class seating, so it can't reward its most loyal passengers by bumping them up to better seats. In fact, the airline has built its entire system around a fairly democratic seating policy, where everyone gets treated mostly the same. Nobody gets an assigned seat and most passengers get their places in the three-tiered regular boarding system when they check in 24 hours before their flights. Top-tier members of Rapid Rewards, the airline's loyalty program, do get checked in earlier than other passengers. And if an A-List or higher member does not get an A group boarding position, they can board after the As and before the ...
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Get ready for $5-a-gallon gasoline as result of gains in crude oil pricing
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National, The Street

Get ready for $5-a-gallon gasoline as result of gains in crude oil pricing

Charley Blaine | The Street Ah, summertime. The sun will be out. The days will be warm and long.  For many of us, it'll be just the time to load up the kids into the family van and head off to Maine, Yellowstone National Park, Niagara Falls and the Great Lakes, or maybe Walt Disney World.  But be ready. There's a chance you will be looking at paying even more than you are now to fill up at a gas station (assuming you aren't driving an electric vehicle).  Don't be too surprised if you see $5 a gallon or more at the gas pump — if you're not paying that much already.  READ THE FULL STORY AT THE STREET
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Shares of Tesla, the leading EV maker, tumble after ‘unmitigated disaster’ in Q1
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National, The Street

Shares of Tesla, the leading EV maker, tumble after ‘unmitigated disaster’ in Q1

By Martin Baccardax | The Street Tesla  (TSLA)  shares fell sharply Tuesday, extending their 2024 slump to around $270 billion, after the world's leading EV maker posted a much weaker-than-expected tally of first-quarter deliveries. Tesla delivered 386,810 new cars over the three months ended in March, the company said in a statement, down 8.5% from the year-earlier period and 20% south of the record 484,507 tally reached over the three months ended in December. Analysts' forecasts for deliveries ranged from 425,000 to around 470,000, with LSEG data pegging the March-quarter target at around 455,000 units. Tesla delivered 369,783 units of its Model 3 sedan and Model Y midsize SUV, as well as 17,027 units of its higher-priced Model S sedan and Model X full-si...
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Could $4 a gallon gasoline be back before Presidential Election Day?
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Commentary, National, The Street

Could $4 a gallon gasoline be back before Presidential Election Day?

By Charley Blaine | The Street Oil and gasoline prices have distinct seasonal patterns, up after the first of the year up until some time in the summer.  The big questions for this year are:  How high will crude oil prices go?  Will gasoline prices hit startling levels? After peaking and sliding into the end of the year, what happens next might be more painful than you expect. READ THE FULL STORY AT THE STREET
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