On Thursday, Wall Street concluded the trading session with little change, as the Dow Jones Industrial Average, a key stock market index, managed to secure a modest increase, thereby ending a 10-day losing streak that was the longest in half a century. The Dow Jones closed with a rise of 0.4%, or 15.37 points, settling at 42,342. Meanwhile, the S&P 500 and the Nasdaq Composite, representing a broader market and technology stocks respectively, experienced marginal fluctuations, closing with a slight decrease of approximately 0.1%.
Initially, all major indices started the day on a positive note, recouping some of the significant losses from the previous day following the Federal Reserve's decision to reduce its projection for interest rate cuts in the upcoming year. However, they struggled to maintain these gains as the yield on the 10-year Treasury note climbed for the second consecutive day, reaching 4.569%. This increase was driven by expectations that interest rates would remain elevated for an extended period. Elevated interest rates can increase borrowing costs for corporations, potentially impacting their profitability and the valuation of their stocks.
The Federal Reserve lowered its key short-term federal funds rate by a quarter of a percentage point on Wednesday evening, as anticipated. However, it also reduced its forecast for rate cuts in the next year, expecting only two reductions of a quarter percentage point each, amidst predictions of higher inflation. This is a decrease from the September forecast, which anticipated four quarter-point rate cuts. The prospect of fewer rate cuts and higher inflation led to a sharp decline in all three major U.S. stock indices, marking their most significant daily drops since August.
Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, commented on the situation, saying, "Santa arrived early and placed a 25 basis point rate cut in the market's stocking, but also included a note indicating that there would be coal next year."
The U.S. economy demonstrated robust growth, expanding at a 3.1% seasonally adjusted annual rate between July and September. This figure exceeded the previous estimate of 2.8% by the Commerce Department and was also higher than the 2.9% consensus forecast by Dow Jones. Consumer spending, which constitutes approximately two-thirds of all activity in the $29.4 trillion U.S. economy, increased by 3.7% in the quarter, which was faster than the earlier estimate of 3.5% and the quickest pace since early 2023.
Sales of existing homes in November surged 6.1% compared to the previous year, representing the largest annual increase in over three years. Eugenio Aleman, Chief Economist at Raymond James, stated that this report supported the Federal Reserve Chairman's earlier assertion this week that "there are no signs, for now, of economic weakness."
As the Thanksgiving holiday approaches, countless Americans will embark on air travel, seeking innovative strategies to simplify their journeys. One such tip that frequently surfaces on social media platforms like TikTok is the art of carrying a full bottle of water through US airport security. The solution is straightforward: freeze the water beforehand.
Surprisingly, this method is not only allowed but also endorsed by the US Transportation Security Administration (TSA). A TSA spokesperson clarified via email, "Frozen liquid items are permitted through the checkpoint as long as they are completely frozen at the time of screening." They further explained, "If the frozen items are partially melted, slushy, or contain any liquid at the bottom of the container, they must adhere to the 3-1-1 liquid rule." This rule stipulates that passengers can carry liquids, gels, and aerosols in containers not exceeding 3.4 ounces or 100 milliliters, all of which must fit into a single quart-sized bag.
In the event that your frozen bottle begins to thaw, it is advised to consume the water before placing your belongings into the security bin. It's important to note that this rule extends to carrying leftovers home after Thanksgiving. Most would concur that ingesting a partially melted serving of gravy before boarding is far from an enjoyable experience. There are exceptions to the 3-1-1 rule, such as for medically necessary liquids, gels, and aerosols, which are allowed in larger quantities in carry-on luggage and must be declared for inspection at the security checkpoint.
The TSA advises against packing any food or frozen liquid items in your carry-on that you would be unwilling to discard. The final decision on whether an item is permitted through the checkpoint rests with the TSA officer, as stated on the TSA website.
Some travelers are skeptical about the benefits of carrying frozen bottles through security. Many commenters on popular TikTok videos and blogs question the necessity, pointing out that it's more convenient to pass through security with an empty bottle and fill it at the water dispensers commonly found in airport departure areas. Others see little reason to avoid the cost of a bottle of water post-security, regardless of the price. A few have noted that the ice might melt too slowly for passengers to consume it during a short flight.
Conversely, some travelers are surprised that this hack is not more widely known, given the TSA's regular reminders on its social media platforms. Among those who find value in this hack is aviation blogger John E. DiScala, known as Johnny Jet, who has traveled over 100,000 miles annually since 1995 and visited over 100 countries. He remarked, "While I've never personally brought a frozen water bottle through security, there are instances where this travel hack is practical.
Yes, you can always refill your bottle post-security, which is what I always do. However, there are times when you might not find a refilling station, encounter long lines, or simply run out of time before boarding. In such cases, having your ice-cold water on hand would be beneficial." DiScala also cited recent aviation disruptions as a reason to consider freezing a bottle of water before a flight. "Water from a refilling station is fine, but in extreme heat, nothing beats ice-cold water," he said. "This past summer, there were numerous stories of passengers stranded on delayed flights, sitting on the tarmac, who likely wished they had some cold water to stay hydrated."
When asked if some travelers might be motivated by the thrill of outsmarting airport regulations, DiScala acknowledged that this could be a factor but emphasized the practical benefits of the hack. "Of course, people enjoy travel hacks that make them feel like they're beating the system, like squeezing extra clothes into a travel pillow, but this one is not only easy and cost-effective but could genuinely contribute to your safety, hydration, and health," he said. "I never like to rely on flight attendants for water, so it's always wise to be prepared and have your own."
Travelers outside the US should verify the policy in their departure country before freezing their water bottles. For example, Canada's Air Transport Security Authority (CATSA) does not explicitly mention frozen water bottles on its website but states that gel and ice packs are subject to 100 ml liquid restrictions, as are non-solid foods, with some exceptions. A post on the CATSA website reads, "Frozen liquids, such as ice, are allowed in quantities of 100 ml (3.4 oz) or less. Food over 100 ml that is normally a liquid or gel but has been frozen solid will not be permitted to pass through security in your carry-on. For food to be considered solid, it must be solid at room temperature."
By Laura Wilson/Dec 20, 2024
By Samuel Cooper/Dec 20, 2024
By Daniel Scott/Dec 20, 2024
By Christopher Harris/Dec 20, 2024
By Megan Clark/Dec 20, 2024
By Elizabeth Taylor/Dec 20, 2024
By Ryan Martin/Dec 20, 2024
By Rebecca Stewart/Dec 20, 2024
By David Anderson/Dec 20, 2024
By Samuel Cooper/Dec 20, 2024
By Jessica Lee/Dec 19, 2024
By Joshua Howard/Dec 19, 2024
By Michael Brown/Dec 19, 2024
By Laura Wilson/Dec 19, 2024
By Elizabeth Taylor/Dec 19, 2024
By Ryan Martin/Dec 19, 2024
By Natalie Campbell/Dec 19, 2024
By Samuel Cooper/Dec 19, 2024
By Amanda Phillips/Dec 19, 2024
By Joshua Howard/Dec 19, 2024