🚀 Air traffic control back to full force ahead of Thanksgiving

In partnership with

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. U.S. airlines expect to carry a record 31 million passengers over the Thanksgiving travel window, buoyed by the end of the 43-day government shutdown that had crippled air traffic control operations and disrupted travel for millions. Carriers say demand surged once the shutdown lifted, with United reporting a 16% jump in bookings mid-November and record international travel interest, especially to Cancun and major European hubs. The industry is now lobbying Congress to guarantee air traffic controller pay during future shutdowns, warning that another lapse — with government funding only secured through January — could again snarl peak-season travel. Major airlines have expanded capacity, with American planning more than 80,000 flights and United expecting to carry 6.6 million passengers, while overall U.S. international capacity is up 5% compared with last year. Yet the picture remains uneven: budget carrier Spirit, still in financial distress, has cut nearly 40% of its domestic flying and furloughed pilots as it struggles through its second bankruptcy in a year.

2. U.S. Secretary of State Marco Rubio said Washington and Kyiv made “substantial” progress on a 28-point U.S. peace plan to end the war in Ukraine during talks in Geneva. Core security questions, including NATO’s role and guarantees for Ukraine, remain unresolved amid criticism that the draft includes significant concessions to Russia. The meetings took place under tense circumstances after President Trump accused Ukraine of showing “zero gratitude.” European allies, who were not consulted on the original plan, rushed to propose a tougher alternative that rejects limits on Ukraine’s military and opposes territorial concessions.

3. Treasury Secretary Scott Bessent insisted the U.S. isn’t headed for a 2026 recession. He argued on Meet the Press that Trump-era tax and trade policies, including permanent 2017 tax cuts and new incentives for seniors, tip earners, and overtime workers, will soon lift growth even as parts of the GOP’s sweeping spending bill have yet to be felt. He acknowledged, however, that key sectors like housing and other interest-rate-sensitive areas remain under strain, and that stalled negotiations over ACA subsidy extensions are poised to drive up health-care costs for millions. While Bessent predicted lower energy prices would help cool inflation, the White House’s Kevin Hassett warned that fourth-quarter data may look weak due to the record 43-day government shutdown.  

   Headlines

   1. Wicked brought in over $150M in its opening weekend.

   2. Kohl’s will name Michael Bender as permanent CEO.