TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Wednesday, October 18.
Full Video Transcript Below:
J.D. DURKIN: Stocks were in the red to close out today’s session. The Dow closed down over 330 points points , the Nasdaq closed down 1.6 percent and the S&P closed 1.3 percent lower. Markets are continuing to keep a close watch on corporate earnings. Netflix and Tesla are two of the biggest companies reporting this evening.
For Netflix, investors will be looking for updates on the company’s password sharing crackdown, its new ad tier, and potential price hikes. As far as Tesla goes, Wall Street will be watching for updates on how its recent price cuts weighed on profits as well as any mention of its Cybertruck.
Meanwhile - have you ever been nice and comfy in your aisle seat only to have to move because the person sitting by the window boarded after you did?
Well - United Airlines is putting a stop to that. The air carrier announced that starting on October 26th it will board economy passengers with window seats before those sitting in the middle or on the aisle. According to United, boarding times for its flights have increased by up to two minutes since 2019, and this new plan could shave those extra minutes right off. People on the same reservation will still be able to board together. The new process will be applied on all domestic flights.
United’s announcement comes on the same day it reported its third quarter earnings. The airline revealed that rising fuel costs along with the halting of flights going into Tel Aviv due to the war between Israel and Hamas will hurt profits during its fourth quarter. United offered more flights to Israel than any other U.S. based airline.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
