Stock Market Winners & Losers: Stocks are moving Higher as Yields Fall | Record Passengers as Airline Industry Recovers | McDonald’s to Open Nearly 9,000 Restaurants

Winner: Stocks Are Moving Higher As Yields Fall
• Stocks opened higher after another set of data indicated that the job market is cooling down.
• The upturn came after ADP’s employment report showed companies added 103,000 private-sector jobs in November, lower than the 120,000 estimate.
• At the same time, worker productivity has increased in the third quarter to 5.2%,
• Job market weakness is good news for stocks as it bolsters the case for the Federal Reserve to pause its rate hikes and consider cutting soon.
• The 10-year Treasury yield fell to 4.147% on Wednesday.
• Uncle Sam taking away some of generous tax credits for EV buyers. But starting next month, cars with China-made battery parts will no longer be eligible for the full $7.5K credit. Because China is the world’s top EV battery producer, it could mean pricier electric rides for Americans:
Winner: Record Passengers As Airline Industry Recovers
• Airlines should carry a record number of passengers next year as the sector puts the Covid-19 pandemic behind it.
• Profitability remains a concern.
• A record 4.7 billion people are forecasted to the skies in 2024.
• This exceeds the pre-pandemic level of 4.5 billion recorded in 2019.
• Covid-19 forced the industry into $183 billion in losses during the 2020-2022 period.
• Airlines are expected to post $23.3 billion in net earnings in 2023.
• Forecasts are for $25.7 billion in profits in 2024 on a 7.6-percent rise in revenues to $964 billion.
• Airlines "net profit margin of 2.7 percent is tiny.
• Airlines will on average retain just $5.45 for every passenger carried basically a cup of coffee of profit per person.
• Gone too are the windfall gains from higher air-cargo rates. Cargo revenue is expected to fall to $111 billion in 2024, down sharply from the peak of $210 billion in 2021, but still above 2019’s level of $101 billion
Winner: McDonald’s to open nearly 9,000 restaurants
• McDonald’s wants to open more than 8,800 locations and add 100 million members to its loyalty program by 2027.
• Our appetites for its Big Macs and McNuggets are still growing
• Wall Street is worried about the economy and the threat posed by weight-loss drugs.
• The burger chain is phasing in an improved version of its burger and doubling down on chicken.
• By 2027, McDonald’s wants a global footprint of 50,000 locations.
• The chain had 41,198 restaurants worldwide as of Sept. 30.
• For comparison, Starbucks aims to reach 55,000 cafes up from its current count of more than 38,000.
• McDonald’s wants to reach a quarter of a billion active members for its loyalty program by 2027.
• The loyalty program has grown to be a juggernaut, boosting mobile sales and encouraging customers to return more frequently

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