Must-Read Money Stories for Tuesday, Feb. 14

by February 14, 2017
Delta plans to invest plenty of dinero south of the border. (Photo via Pixabay)

Delta plans to invest plenty of cash south of the border. (Photo via Pixabay)

Apple shares hit all-time high

CNBC reported that shares of Apple’s stock climbed to an all-time high Monday, riding a post-earnings rally and a more favorable outlook on Wall Street. Apple closed at $133.29 a share, surpassing its record closing high price of $133, set in February 2015. The record came after Goldman Sachs raised its price target on the stock on Monday, citing Apple’s 3-D sensing technology. Apple’s stock has risen nearly 10 percent since the company reported quarterly earnings two weeks ago.

Judge denies tribes’ pipeline request

A federal judge effectively reopened work on the $3.8 billion Dakota Access Pipeline on Monday, according to Reuters. Judge James Boasberg of the U.S. District Court in Washington, D.C. rejected a request from the Standing Rock Sioux and Cheyenne River Sioux tribes to halt construction of the pipeline’s final link. The tribes had argued the project would prevent them from practicing religious ceremonies. The U.S. Army Corps of Engineers last week granted a final easement to the company building the pipeline after President Trump issued an order to advance the work days after he took office.

Consumers’ great expectations

Bloomberg reported that U.S. households think prices are going up. According to a Federal Reserve Bank of New York survey, expectations for consumer price inflation rose to the highest level since mid-2015. That’s actually good news for the Feds, who are trying to determine what Trump’s policies will mean for the economy. Not so good news: Consumers only expect their household income to grow 2.6 percent over the next 12 months, which is down from December.

Delta eyes Mexican skies

CNNMoney reported that Delta announced plans to buy 32 percent of Aeromexico. Delta already owns a chunk of the Mexican airline, and its upcoming purchase, announced Monday, brings Delta’s total stake to 49 percent of Aeromexico’s shares. The news sent the Mexican carrier’s stock soaring, up 16 percent to an all-time high. Delta’s stock also popped up 2 percent by Monday afternoon. The deal is still subject to regulatory approval in Mexico and the U.S.

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