A Boeing 767-332(ER) from Delta Air Lines takes off from Barcelona El Prat Airport in Barcelona on Oct. 8, 2024.
Joan Valls | Nurphoto | Getty Images
My top 10 things to watch Tuesday, March 11
1. Wall Street is on track for a muted open today after a brutal sell-off yesterday that was fueled by growing recession concerns. President Donald Trump, whose tariffs are creating uncertainty for businesses and investors, has said he “can’t really watch the stock market” while implementing his policies.
2. Delta cuts its first-quarter earnings outlook so dramatically that I wonder if the resilient travel theme is finally busted over uncertainty. The airline now expects to earn 30 cents to 50 cents a share instead of 70 cents to $1. A pair of safety incidents earlier this year exacerbated the impact of consumers and businesses pulling back on macro worries, CEO Ed Bastian told CNBC yesterday.
3. American Airlines cut its forecast on both revenue and profits this morning, citing the impacts of the fatal crash in Washington, D.C., in late January and “softness in the domestic leisure segment, primarily in March.” It now sees a loss of 60 cents to 80 cents a share versus a loss of 20 cents to 40 cents previously.
