Traders work on the floor of the New York Stock Exchange during morning trading on April 10, 2023 in New York City.
Michael M. Santiago | Getty Images
Here are the most important news items that investors need to start their trading day:
1. Recession risk
2. Prepare for takeoff
Delta Air Lines airplanes at the Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, U.S., on Tuesday, Dec. 21, 2021.
Elijah Nouvelage | Bloomberg | Getty Images
Delta Air Lines on Thursday reported “record advance bookings for the summer” — the peak travel season — as passengers keep buying up tickets despite steep airfares and macroeconomic uncertainty. The carrier forecast second-quarter revenue growth of between 15% and 17% and earnings per share of between $2 and $2.25. That guidance was ahead of Wall Street’s projections for 14.7% revenue growth and $1.66 of earnings per share, according to Refinitiv consensus estimates. What’s more: premium tickets, like those in first class cabins, are outpacing revenue from standard coach. Delta is the first airline to report first-quarter results and summer expectations. United Airlines reports next week.
3. Amazon’s reset
Amazon CEO Andy Jassy speaks with CNBC’s Jon Fortt.
CNBC
Amazon CEO Andy Jassy is confident that cost-cutting at the e-commerce giant will pay off. He said in his annual shareholder letter, out Thursday, that he’s spent the last several months taking a “deep look across the company, business by business” to asses unit revenue, operating income and free cash flow. “In some cases, it led to us shuttering certain businesses,” Jassy wrote, likely referencing the telehealth service and other experimental projects that Amazon cut in recent months. The company also laid off 27,000 employees, the largest cuts in its history, and instituted a hiring freeze for its corporate workforce. “I’m optimistic that we’ll emerge from this challenging macroeconomic time in a stronger position than when we entered it,” Jassy wrote. Read his full shareholder letter.
4. Buffett on banks
Warren Buffett, CEO of Berkshire Hathaway, attends the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019.
Johannes EISELE | Getty
5. Meet Max
Casey Bloys, Chairman and CEO, HBO & Max Content, speaks onstage during a Warner Bros. Discovery Streaming Press Event on April 12, 2023 in Burbank, California.
Jeff Kravitz | Getty Images
– CNBC’s Brian Evans, Leslie Josephs, Annie Palmer, Yun Li Alex Sherman and Lillian Rizzo contributed to this report.
— Follow broader market action like a pro on CNBC Pro.
