© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect
SYDNEY – The Australian dollar experienced a notable decline today, slipping below the US66 cents mark amid a broader strengthening of the US dollar. In corporate news, Coles announced a leadership change, with Jeff Kennett stepping down and Jenny Linsten set to take over the reins on February 15th.
In the United States, major stock indexes saw a downturn in performance. The fell by 0.4%, the by 0.6%, and the by 0.2%. The aviation sector made headlines as Spirit Airlines (NYSE:)’ shares took a hit of 47.09% following the suspension of its merger plans with JetBlue due to disagreements over the deal’s pricing. Conversely, JetBlue’s stock enjoyed an uptick of 4.91% despite the merger setback.
Further impacting market sentiment, Morgan Stanley (NYSE:)’s shares declined by 4.16% after the company reported significant legal expenses. Investors are also looking ahead to potential Federal Reserve rate cuts, with expectations of a decrease as soon as March, causing Treasury yields to drop.
Boeing (NYSE:) also faced challenges in the market due to safety concerns stemming from an incident with an Alaska Airlines jet, resulting in a decrease in its stock value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.