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Airlines react to new mask rules, Social Security COLA hike, financial earnings: LIVE UPDATES

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Cryptocurrency prices were mostly higher early Tuesday, with Bitcoin crossing the $40,000 threshold for the first time in several days.

Bitcoin was trading at approximately $40,745, up nearly 4.5%, while ethererum and dogecoin were also higher, trading at around $3,040 (+ 4.94%) and 13.97 cents (3.25%), respectively, according to Coindesk.

TerraUSD stablecoin, the fast-growing, popular coin, comes with some risk because of its dependence on algorithms to hold its dollar peg.

“It’s all fun and games if you’re a $5 [billion] or $10 billion market cap stablecoin,” Tether Chief Technology Officer Paolo Ardoino said in an interview with CoinDesk. But that can change the bigger that stablecoin's market cap gets, the report said.

Posted by Jack Durschlag

The average price for a gallon of gasoline in the U.S. rose early Tuesday to $4.101, according to the latest numbers from AAA.

The price on Monday was $4.087.

The previous record high was $4.33, set on Friday March 11, 2022.

Posted by Jack Durschlag

Stocks rebound early Tuesday, 1Q earnings results due


U.S. stocks were higher early Tuesday as Wall Street looks ahead to the flood of financial earnings with Dow members Travelers, Truist Financial, and Fifth Third Bancorp posting results. 

Also watch for numbers from another Dow member, pharmaceutical and consumer health care giant Johnson & Johnson, as well as aerospace/defense firm Lockheed Martin, oil and gas services giant Halliburton, and toymaker Hasbro among others.

In the afternoon, the spotlight will turn to Netflix when the streaming giant becomes the first of the big-cap consumer/tech titans to post January-March results.

Analysts surveyed by Refinitiv expect earnings-per-share to slip 23% from a year ago to $2.89 on a 10.7% jump in revenue to $7.93 billion. 

Analysts are predicting 2.5 million new subscribers for the March quarter, matching Netflix’s own forecast and down 37% from 3.98 million in the year-ago quarter.

Posted by Associated Press

Oil reaches highest prices of month over concerns of tight supplies

Oil prices have climbed to their highest prices of the month so far, lifted by concerns over tight supplies.

"The impact of long-term undersupply continues to provide fundamental support to the market," said Robbie Fraser, global research and analytics manager at Schneider Electric, in a daily note. "The longer those conditions continue, the more it forces storage levels lower, in turn raising the floor for where prices can trade near-term."

"Those conditions have been further reinforced by near-term challenges though, with an outage at Libya's largest oil field serving as the most recent example," he said. "Amid major protests, the Sharara field has been shut at least temporarily, with government officials warning that all exports from Libya are now threatened."

West Texas Intermediate crude for May delivery rose 1.2% to settle at $108.21 a barrel.

Front-month contract prices logged their highest finish since March 25, according to Dow Jones Market Data. June Brent crude, the global benchmark, added 1.3% to $113.16 a barrel, with prices at their highest settlement for the month so far.

Posted by Dow Jones Newswires

Musk would eliminate Twitter board salaries

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Billionaire Elon Musk would cut the salaries of Twitter's board of directors to zero if his ongoing attempt to purchase the company succeeds, Musk announced Monday.

Musk offered to purchase Twitter and take it private for $54.20 last week, and Twitter's board is working to fight off the buyout. Board members currently make between $200,000 and $300,000 salaries, equating to an annual cost of roughly $3 million for the company."

Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there," Musk tweeted.

Twitter's board adopted a so-called poison pill last week in its effort to ward off Musk's offer. The move allows all of Twitter's current shareholders – except for Musk – to purchase additional shares at a reduced cost. While that severely decreases the value of the company, it also dilutes Musk's stake in the company.

Posted by FOX Business Team

Gold futures advance in early Asian trading


Gold futures advanced with little prospect for a quick end to Russia's invasion of Ukraine in sight contributing to global inflation, supporting haven demand and lifting prices to their highest finish in more than five weeks.

"Gold directly benefits from the Russia-Ukraine conflict inflation effects, which are now more meaningful than direct military developments, in a market sense," said Stephen Innes, managing partner at SPI Asset Management.

"These consequences have fabricated a hyperinflationary environment that sees gold investors stocking up on paper and [the physical metal] for the eventual procession to recession," Innes added.

Gold futures for June delivery climbed 0.6% to settle at $1,986.40 an ounce on Comex.

The settlement was the highest for a most-active contract since March 10, according to Dow Jones Market Data.

Posted by Dow Jones Newswires

Airlines react to judge's mask ruling


Multiple airlines on Monday said they would no longer enforce COVID mask mandates for employees and travelers after a federal judge’s move to void the Biden administration’s mask mandate for travelers.

"Effective immediately, masks are no longer required at United on domestic flights, select international flights (dependent upon the arrival country’s mask requirements) or at U.S. airports," United Airlines told FOX Business in a statement.

"Delta Airlines initially said it would "continue to comply with the TSA Security Directive on masks until informed otherwise by the TSA," before making the policy optional for its employees and customers.

Alaska Airlines reportedly said it would make mask-wearing optional on its flights.

Posted by FOX Business Team

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