Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays.
Over 800 flights were canceled within, into, or out of the United States on Monday, data from flight-tracking website FlightAware.com showed.
That was on top of over 3,000 flight cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.
Shares of American Airlines Group Inc, United Airlines Holdings Inc, Delta Air Lines Inc and Southwest Airlines Co were down between 0.2% and 0.8%.
Most airline stocks have rallied this year on hopes of a travel boom as travelers start visiting friends and family after dealing with pandemic-related restrictions last year.
However, staff shortages at airlines, weather-related disruptions and now the fast-spreading Omicron variant have disrupted flights frequently this year.
Poor weather in some areas has also added to travelers woes.
Southwest Airlines said it had canceled about 50 of the 3,600 flights scheduled Monday due to weather-related problems.
Delta and United did not respond to Reuters’ requests for comment, while American Airlines pointed to its statement on Saturday that said the carrier had to cancel flights due to “COVID-related sick calls”.
Separately, the Shanghai government said on Monday that the country’s aviation regulator would suspend two China Eastern Airlines Corp Ltd flights from New York to Shanghai from Jan. 3 due to rising COVID-19 cases.
Other travel stocks also came under pressure as Omicron triggers fears of tougher restrictions.
Shares of Norwegian Cruise Line Holdings, Royal Caribbean Cruises Ltd and Carnival Corp were down between 1.1% and 2.3%.
Carnival Corp said it had isolated a small number of passengers on board its Carnival Freedom cruise ship due to positive COVID-19 test results. All passengers from the cruise trip disembarked on Sunday, and the ship departed Monday afternoon on its next planned voyage, it added.
Travel firms Airbnb Inc, Expedia Group Inc and Tripadvisor Inc fell between 0.4% and 1%.
Hotel operators Marriott International Inc and Hilton Worldwide Holdings Inc were down marginally.
(Reporting by Aishwarya Nair and Abhijith Ganapavaram in Bengaluru; Additional reporting by Ananya Mariam Rajesh; Editing by Anil D’Silva)
4 Must-Have TFSA Stocks for Any Investment Goal – Yahoo Canada Finance
Written by Amy Legate-Wolfe at The Motley Fool Canada
If you have a Tax-Free Savings Account (TFSA), then you hopefully have an investment goal to go along with it. Now, we could drill down into specific savings goals, but, honestly, those goals change! What someone wants at 30 will be different at 50, and so on. First, it’s student debt, then a house, then a child, their education, and, of course, retirement.
Frankly, you shouldn’t have to juggle your investments every time you come up with a new goal. In fact, one of the main points of investing is to buy and hold for as long as you can. Sure, you can take out cash as your goals come in, but you should be able to hold onto them for as long as you want.
With that in mind, here are four TFSA stocks that will help you achieve any investment goal.
If you’re going to have long-term TFSA stocks, you need stable companies to get you there. That would definitely include Fortis (TSX:FTS)(NYSE:FTS). The utility company has been growing its dividend each year for almost 50 years. This comes from a stable business plan of growth through acquisition.
Investors have been flocking to Fortis as one of the TFSA stocks they want because of this stability — especially during the market pullback. The company is basically recession proof, providing gas and electric utilities to 3.4 million customers. You need the lights on no matter what, making it a strong choice for any investor.
Fortis shares are up 16% in the last year with a dividend yield of 3.63%.
The Big Six banks may be trading at all-time highs, but there’s a reason. And that reason is why they’re TFSA stocks for any investment goal. The banks managed to get out of the market drop relatively unscathed, and yet they still have so much cash on hand to make up for lost time. And that comes through solid dividend jumps.
But Toronto-Dominion Bank (TSX:TD)(NYSE:TD) has even more to offer. TD stock offers the most growth of the Big Six banks, with the most amount of credit card partnerships, growing online and United States presence, and the most loan options for solid revenue streams. And yet even after all this growth, TD stock still trades at just 13.42 times earnings.
TD stock is up 41% in the last year, with a dividend yield of 3.47%.
If you have the cash to invest, Constellation Software (TSX:CSU) is one of the few tech stocks that remains a stable investment. The company has been an acquisition powerhouse, identifying the software companies it believes will thrive with incredible expertise.
It’s those experts that have managed to keep the company growing at a stable clip, even as other tech stocks burn around it. Constellation shares have been steady as a rail, growing through venture funds and seeing revenue rise 30% year over year during the last quarter. It’s one of the TFSA stocks any investor should add as soon as possible before it rises even more.
Shares of Constellation are up 34% in the last year, and it recently boosted its dividend to offer a yield of 0.24%.
Finally, Nutrien (TSX:NTR)(NYSE:NTR) may be on the newer side, but don’t count this out among TFSA stocks. People need to eat, and Nutrien is now the world’s largest crop nutrient provider. As arable land decreases and climate change increases, Nutrien will be a necessity for any portfolio.
Nutrien continues to grow through acquisition. In the last few years, it has increased its digital presence at an incredible rate. This kept revenue coming in at an incredibly important time — for the company and farmers. Now, it’s nearing the three-digit mark and isn’t likely to come down.
Shares of Nutrien are up 37% in the last year, with a yield of 2.57% for investors.
Should you invest $1,000 in Air Canada right now?
Before you consider Air Canada, you may want to hear this.
Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now… and Air Canada wasn’t one of them.
The online investing service they’ve run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.
Fool contributor Amy Legate-Wolfe owns TORONTO-DOMINION BANK. The Motley Fool recommends Constellation Software, FORTIS INC, and Nutrien Ltd.
Gulf Energy, Binance announce Thailand crypto partnership
Gulf Energy in a disclosure to the stock exchange said its agreement with Binance is a response to the rapid growth in digital asset infrastructure in Thailand.
Binance said it would set up the cryto exchange and related businesses in the country.
“Our goal is to work with government, regulators and innovative companies to develop the crypto and blockchain ecosystem in Thailand,” a Binance spokesperson said.
“The first step is to explore opportunities in an open and collaborative manner. ”
Last year, Binance received a criminal complaint from Thailand’s market regulator, the Securities and Exchange Commission (SEC) for operating a digital asset business without a license.
The Thai energy company has been diversifying into new areas and last year became the major shareholder of Intouch Holdings Pcl, owner of the country’s largest cellphone operator, Advanced Info Service PCL.
(Reporting by Panu Wongcha-um; Editing by Martin Petty)
Toronto market notches 8-week high as energy shares climb
Canada’s main stock index rose on Monday to its highest level in nearly eight weeks, led by gains for energy and financial shares.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 179.89 points, or 0.8%, at 21,537.45, its highest closing level since Nov. 25.
Gains for the index were notched as shares globally recovered some ground after declines at the end of last week.
“Overseas market action has been positive and we’re basically benefiting from it,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
The energy sector rose 1.7% as oil prices climbed. U.S. crude oil futures were up 0.6%, with investors expecting that global supply will remain tight despite a rise in Libyan output.
Technology and financials, the Toronto market‘s most heavily-weighted sector, both gained 1.2%, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.5%.
TSX trading volumes were lower than usual as U.S. markets were closed for the Martin Luther King Jr. holiday.
Canadian firms see labor shortages intensifying and wage pressures increasing, with strong demand growth and supply chain constraints putting upward pressure on prices, a regular Bank of Canada survey said, bolstering bets the central bank would hike interest rates as early as next week.
(Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by Paul Simao)
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