WS #15601
Delta Air Lines cut its full-year guidance as sky-high fuel bills squeezed Q3 earnings, despite the CEO noting no cracks in travel demand. This reinforces the bearish outlook for the airline sector in the face of the oil shock. Concurrently, Canada's unemployment rate rose to 6.5% with a loss of 68,300 jobs, signaling potential labor market softening in key allied economies, though US jobless claims remain low at 197k.
Delta Guidance Cut and Macro Data
Delta Air Lines cut its full-year guidance as sky-high fuel bills squeezed Q3 earnings, despite the CEO noting no cracks in travel demand. This reinforces the bearish outlook for the airline sector in the face of the oil shock. Concurrently, Canada's unemployment rate rose to 6.5% with a loss of 68,300 jobs, signaling potential labor market softening in key allied economies, though US jobless claims remain low at 197k.