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Stocks Give Up Gains, Close Lower After Relief Optimism Wilts

Stocks Give Up Gains, Close Lower After Relief Optimism Wilts TheStreet 12/29/2020 © TheStreet Stocks Give Up Gains, Close Lower After Relief Optimism Wilts Stocks finished lower, as early optimism over President Donald Trump s signing of the coronavirus relief package wilted when Senate Majority Leader Mitch McConnell (R-Kentucky) thwarted efforts to increase direct payments to hurting Americans. Popular Searches Leading the Dow 30 lower: Apple , off 1.3%, and Home Depot, down 1.1%. Intel shares jumped on Tuesday after hedge fund Third Point urged the chipmaker to assess strategic alternatives, including possibly separating its design and manufacturing arms. Shares of the Santa Clara, Calif., company closed up 4.9%.

Boeing s 737 MAX Returns to U S Commercial Service With American Airlines Flight

Updated Dec. 29, 2020 5:10 pm ET American Airlines Group Inc. put passengers back on Boeing Co. ’s 737 MAX for the first time in the U.S. since the aircraft was grounded nearly two years ago following two deadly crashes. American Flight 718 departed Miami International Airport around 10:30 a.m. on Tuesday and landed at New York’s LaGuardia Airport at 1:10 p.m. American said the flight was mostly full and that airline President Robert Isom was among the passengers. Daily round-trip flights between Miami and New York are the start of American’s plans to gradually return the MAX to service. An American spokeswoman said the airline has begun announcing aircraft types during boarding to make sure passengers are aware when they are flying on a MAX. American will also alert passengers if they are suddenly scheduled to fly on a MAX due to a schedule change, she said.

American Airlines Returns Furloughed Workers After Payroll Relief

American Airlines recalling workers, though stimulus not signed

American Airlines is moving forward with bringing back workers even though President Donald Trump signaled Tuesday that he wasn’t happy with the COVID-19 economic stimulus bill passed by Congress Monday. Airlines are looking at that as more of a delay than a rejection.

Industry Reactions to Latest COVID Relief Bill

Industry Reactions To Latest COVID-19 Relief Bill Image: American Airlines Late Monday night, the U.S. Senate, as predicted, passed a $900 billion, nearly 5,600-page emergency economic relief bill that’s expected to be signed by President Trump this week. In it, as we previously reported, is some $15 billion to extend the Payroll Protection Program (PPP) that was part of the first round of COVID-19 relief measures and helped keep U.S. airlines afloat during an unprecedented downturn in travel. The new bill also includes $2 billion for airport relief, with some $45 million targeted at general aviation airports. With this aid, which is expected to become available as early as next week, airlines are expected to slow their planned staff-reduction efforts and even begin bringing back some furloughed employees. Airlines and related industries received $25 billion in the spring under a program that expired on Sept. 30.

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