FAA to investigate Southwest flight that departed from closed runway in Maine.
(Reuters) – The Federal Aviation Administration said on Friday it will investigate a Southwest Airlines (NYSE: LUV) flight that departed from a temporarily closed runway in Maine earlier this week.
The FAA said on Tuesday an airport vehicle exited the runway before Southwest Flight 4805, a Boeing (NYSE:BA) 737, began its takeoff roll and departed around 5:45 a.m. local time (0945 GMT). Southwest said it is engaged with the National Transportation Safety Board and FAA to understand the circumstances of the departure. After the incident the plane continued safely to Baltimore, Southwest said.
US stock futures higher; PCE data points to cooling inflation.
U.S. stock index futures rose Friday, ending a positive month on the up after key inflation data pointed to a cooling of inflationary pressures.
At 08:40 ET (12:40 GMT), Dow Jones Futures rose 30 points, or 0.1%, S&P 500 Futures traded 18 points, or 0.3% higher, and Nasdaq 100 Futures climbed 76 points, or 0.4%.
The main indices are on course for robust gains in the first six months of 2024, which officially concludes with Friday’s closing. The S&P 500 is on track for gains on 15% year to date, the NASDAQ Composite is 19% higher, while the Dow Jones Industrial Average only gained 4%.
PCE data suggests cooling inflation.
Data released earlier Friday showed the PCE price index remained flat in May after rising 0.3% in the previous month, with the core figure, which excludes volatile food and energy prices, rose just 0.1% after a revised 0.3% gain the month before.
This is a closely watched measure of inflation, widely regarded as the Federal Reserve’s preferred gauge, and this moderation in price pressures is likely to strengthen the case for interest rate cuts this year.
The Fed is guiding for just one interest rate cut this year in December, but market participants still widely expect two cuts starting in September, hoping for a sustained downtrend in price pressures.
The chances of a rate cut in September stand at 64%, as per LSEG Fed Watch data.
Presidential debate outcome
Investors are also digesting the first Presidential debate of the 2024 elections, between Democrat and Republican candidates Joe Biden and Donald Trump.
Nike slumps after flagging sales decline.
Shares in Nike (NYSE: NKE) shed more than 14% premarket after the sports apparel company told investors that revenue is expected to fall by 10% in the current quarter.
Sales in the ongoing fiscal year are also seen decreasing by a percentage in the mid-single digits.
Trump Media & Technology Group (NASDAQ: DJT) rose over 6% in premarket trading after CNN’s flash poll showed that the Republican candidate has outperformed US President Joe Biden in the first presidential debate.
Infinera (NASDAQ: INFN) stock soared 17% after Nokia (HE: NOKIA) announced plans to buy U.S. optical networking gear maker in a $2.3 billion deal, amid plans to gain from the billions of dollars in investment pouring into data centers to cater to the rise of artificial intelligence.
VCI GLOBAL ANNOUNCES SECONDARY LISTING ON THE FRANKFURT STOCK EXCHANGE, EXPANDING ITS MARKET REACH
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), a diversified holding company specializing in consulting, fintech, AI, robotics, and cybersecurity, is pleased to announce its secondary listing on the Frankfurt Stock Exchange under the ticker symbol “H0T” (Frankfurt: H0T) in the Open Market.
This strategic move marks a significant step in enhancing VCIG’s global presence and expanding its shareholder base to European investors. This new listing underscores VCIG’s commitment to innovation and growth in key sectors, aiming to capture new opportunities in Europe’s dynamic business landscape.