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The federal government is fining American Airlines $4.1 million for dozens of instances in which passengers were kept on board planes without a chance to exit during long ground delays.

The U.S. Department of Transportation said Monday it is the largest such fine against an airline since rules covering long ground delays took effect about a decade ago.

The department said its investigation revealed that from 2018 through 2021, American kept 43 domestic flights stuck on the ground for at least three hours without giving passengers the chance to deplane. There are exceptions in which airlines are allowed to bend the rules, including for safety and security reasons, but the department said none of those were factors in the flights it identified.

“This is the latest action in our continued drive to enforce the rights of airline passengers,” said Transportation Secretary Pete Buttigieg, who vowed to hold airlines accountable under consumer-protection laws.

According to the consent order, American said it seeks to avoid any lengthy ground delays, but the 43 flights represented a tiny fraction of 1% of the roughly 7.7 million flights that American and American Eagle operated between 2018 and 2021. The airline said it provided “substantial compensation” to delayed passengers,” and has since devoted more management attention to avoiding delays.

Most of the delays occurred at Dallas-Fort Worth International Airport, where American is the dominant airline, and others occurred in San Antonio and Houston when flights heading to DFW were diverted there. Many occurred during thunderstorms, and American was unable to manage its airport gates to let passengers deplane.

The airline took particular issue with delays at Reagan Washington National Airport during a winter storm in January 2019, but accepted the settlement outline in the consent order.

This post appeared first on NBC NEWS

For the first time ever, IHOP is making its biscuits menu available nationwide.

The Dine Brands chain, best known for its pancakes, has been branching out into different categories, from burritos to savory crepes, after slashing its menu by a third during the early days of the Covid-19 pandemic. The new menu items have largely focused on drawing in diners during lunch and dinner hours and attracting more takeout orders. IHOP has also brought back some old favorites, such as its Cinn-A-Stack pancakes.

However, the chain’s menu strategy hasn’t been enough to offset consumers’ cautious spending behavior. In its latest quarter, IHOP’s same-store sales grew just 2.1%, despite higher menu prices compared with the year-ago period. Sister brand Applebee’s fared even worse, reporting a same-store sales decline of 1% for the same period.

Shares of Dine Brands have fallen 25% this year, dragging its market value down to $856 million.

Starting Monday, IHOP’s sales — and Dine Brands’ stock — could get a boost from its biscuits menu. The chain has sold biscuits in certain regions, such as the South, but it decided to take the plunge and bring them to menus nationwide.

The new lineup includes a buttermilk biscuit; a breakfast biscuit sandwich made with bacon, American cheese, cheese sauce and eggs; a chicken biscuit sandwich that features pickle chips and country gravy; and a fresh strawberries and cream biscuit filled with cheesecake mousse, strawberries and syrup.

The breakfast biscuit sandwich, with a choice of a side, will be available until Sept. 26 for $7 to appeal to budget-minded consumers.

IHOP Chief Marketing Officer Kieran Donahue told CNBC that consumer research showed diners across the country would be interested in eating the chain’s biscuits.

“We wouldn’t have put this on our menu if we didn’t think it had national appeal,” she said.

But first, the chain upgraded its biscuit recipe. The result is a biscuit that’s flaky with a little crunch on the top, according to Donahue.

Biscuit sandwiches have been growing more popular with consumers, according to data from Datassential, a food and beverage market research firm.

Chick-fil-A’s national expansion outside its Southeast stronghold has brought the Southern breakfast staple further into the mainstream. When Wendy’s rolled out its breakfast nationwide in early 2020, biscuits joined croissants and English muffins as the bases for its breakfast sandwiches.

But biscuits aren’t on menus as much as they used to be. They can be found at 11.8% of U.S. restaurants, down from 14% in 2020, according to Datassential. Still, while their availability has shrunk, biscuits are growing more popular as sides and appetizers, the firm found.

In line with that trend, IHOP crafted its biscuits menu to be versatile. For example, the fresh strawberries and cream biscuit could be a sweet breakfast or a dessert.

Donahue also said that the chain made sure the biscuits could work for takeout as well. More than a fifth of IHOP’s sales come from to-go orders.

More from CNBC:

Amazon is seeing some employees quit instead of moving to a new state as part of relocation mandateFerrari CEO says nearly a third of new buyers are under 40, even as wait lists growSubway sandwich chain sells itself to private equity firm Roark Capital

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Bonds have had one of the worst years in modern times and one of the fastest rates of interest rate rises.

The good news is the market has absorbed the bond’s performance. A better risk-on environment is when the SPY outperforms the long bonds. The same is true with junk bonds outperforming long bonds. Another indicator of risk-on.

The yield curve remains inverted — or the potential recession indicator has not, to date, caused a recession. Hence talk of a soft landing. Will yields tap out at 5.5-5.75%? Many think so. However, higher for longer seems more likely.

Furthermore, inflation is not quite done. The PCE, due out this week, is at 4%, not 2% And just as it took from 2020 until spring 2022 to see inflation soar then peak, it is likely we will not see the impact on these rates until 2024 or even 2025. Talking technical, bonds do not look likely to rally from here (TLT). However, we are watching the October 2022 lows carefully.

A potential double bottom exists if TLTs can clear back above 98. A move under 95, though, points more to a retest and possible break of the low 91.85.

How does this impact small caps?

Small caps, as measured by IWM, are key for the fall and into 2024. You can also look at SML, the S&P 600. Over the weekend, we covered that the Russell 2000 (IWM) could be forming an inverted head-and-shoulders bottom going back from the start of 2023. First though, it must hold 180 and clear 190. No small task.

Small caps are related to commercial real estate, so that is a caveat.

Why could small caps do well? The Government has spent a lot of money on US manufacturing, and the Dallas-fed index fell less than expected. In the US quest for more independence on goods, we must look to costs and labor for the trend to sustain. It must be noted though, that prices and wages paid soared. 

The IWM chart shows a lack of leadership thus far against the SPY. The Real Motion Indicator has no real divergence from price. Nonetheless, IWM needs more everything-more rally, more leadership, and more momentum.

Our small caps quant model has done well this year, buying companies with earnings growth. The basket is an interesting combination of semiconductor companies, home building and beauty staples.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish served as guest host for the Monday, August 28 edition of StockCharts TV’s The Final Bar! Mish puts her own spin on the Market Recap, starting with the indices and then exploring sectors using her “Economic Modern Family” analysis. She then sits down with Keith Schneider for an insightful interview. Keith discusses topics such as agricultural commodities, biotechnology, and volatility.

Mish and Charles discuss a secular bear market in bonds and why gold could outshine expectations in this appearance on Fox Business’ Making Money with Charles Payne.

Mish and Paul Gruenwald discuss soft landings, recession, inflation, GDP and China on Yahoo Finance.

Mish looks at a selection of popular instruments and outlines their possible direction of travel in this appearance on CMC Markets.

Mish talks NVDA and “Trading the Weather” in these two appearanceson Business First AM.

Read Mish’s commentary on Gold in these two articles from Kitco.

Mish and Nicole discuss where to park your money, barring any watershed event, in this video from Schwab Network.

On the Friday, August 18 edition of StockCharts TV’s Your Daily Five, Mish covers bonds, the dollar, risk-off indications and several key commodities with actionable levels to consider.

Mish joins Maggie Lake of Real Vision to discuss what rising bond yields mean for investors across the market landscape, what comes next for stocks and commodities, and why she is taking profits here in the growth and AI stocks.

Mish shows why January and now the July reset worked in this appearance on Business First AM.

Mish discusses Alibaba’s stock price in this appearance on CNBC Asia.

In this guest appearance on David Keller’s The Final Bar on StockCharts TV, talks higher rates and why China may deserve a second look for investors.

Mish discusses inflation, bonds, calendar ranges and places to park your money on the Benzinga Morning Prep show.

Mish covers why August is a good time for caution in this appearance on Business First AM.

Mish and Jared go over oil and what might happen with small caps and regional banks in this appearance on Yahoo! Finance.

Coming Up:

Mish will be on break starting August 30 and return Tuesday, September 5th.

September 7: Singapore Breakfast Radio, 89.3 FM

September 12: BNN Bloomberg & Charting Forward, StockCharts TV

September 13: Investing with IBD podcast

October 29-31: The Money Show

ETF Summary

S&P 500 (SPY): 440 now back to pivotal.Russell 2000 (IWM): Popped off the key support. 185 pivotal.Dow (DIA): Will watch to see if it can back over 347.Nasdaq (QQQ): 363 pivotal.Regional Banks (KRE): Needs to hold 44 to be convincing.Semiconductors (SMH): 150 back to pivotal.Transportation (IYT): 239 still support to hold, with 252 biggest overhead resistance.Biotechnology (IBB): Compression between 124-130.Retail (XRT): The 6-month calendar range low is 62.90 — needs to clear it.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

In this special edition of StockCharts TV‘s The Final Bar, guest host Mish Schneider (MarketGauge) steps in for Dave. Mish puts her own spin on the Market Recap, starting with the indices and exploring sectors using her “Economic Modern Family” analysis.

Mish then sits down with Keith Schneider (MarketGauge) for an insightful interview. Keith discusses topics such as agricultural commodities, biotechnology, and volatility.

This video originally premiered on August 28, 2023. Watch on our dedicated Final Bar page on StockCharts TV, or click this link to watch on YouTube.

New episodes of The Final Bar premiere every weekday afternoon LIVE at 4pm ET. You can view all previously recorded episodes at this link.

In August’s last regular episode of StockCharts TV’s Sector Spotlight, I address the seasonal patterns in sector rotation and looks to find alignment with the current rotations as they are playing out on the Relative Rotation Graph. September is not the strongest month in terms of seasonality, but three sectors are worth a closer look for possible trading decisions.

This video was originally broadcast on August 28, 2023. Click anywhere on the Sector Spotlight logo above to view on our dedicated Sector Spotlight page, or click this link to watch on YouTube.

Past episodes of Sector Spotlight can be found here.

#StaySafe, -Julius

In this week’s edition of The DecisionPoint Trading Room, Carl introduces viewers to the new Market Bias table now included in the DecisionPoint Alert. This table covers all the major indexes, sectors, and select industry groups. He goes over how we determine the bias in the intermediate and long terms. What is the table telling us right now?

Carl and Erin discuss the NVDA chart, as well as the other major mega-cap stocks. Erin then examines three sectors that are currently catching her eye based on new strength and/or reversals off key support levels. She closes the trading room out with a look at your symbol requests.

This video was originally recorded on August 28, 2023. Click this link to watch on YouTube.

New episodes of The DecisionPoint Trading Room premiere on the StockCharts TV YouTube channel on Mondays. (No new episode on September 4 due to the Labor Day market holiday.) Past videos will be available to watch here. Sign up to attend the trading room live Mondays at 12pm ET by clicking here!

Former Vice President Mike Pence’s campaign slammed Vivek Ramaswamy for supposedly flip-flopping on the issue of Jan. 6 on Sunday, highlighting the fellow Republican presidential candidate’s past comments that condemned the incident.

Pence’s campaign produced multiple instances in which Ramaswamy appeared to contradict his own past statements about the pro-Trump storming of the U.S. Capitol on Jan. 6, 2021.

‘On August 4, 2023, [Ramaswamy] refused to say he would have certified the results of the 2020 election on January 6, 2021,’ the Pence campaign wrote. ‘Yet at Wednesday’s GOP debate, he raised his hand in support of what Mike Pence did in following the Constitution.’

The campaign cited a Jan. 11, 2021, op-ed Ramaswamy wrote for the Wall Street Journal in which he referred to the ‘disgraceful Capitol riot’ as a ‘stain on American history.’

The following day on Jan. 12, 2021, Ramaswamy referred to his op-ed in a statement: ‘What Trump did last week was wrong. Downright abhorrent. Plain and simple. I’ve said it before and did so in my piece.’

A litany of other examples followed. The Pence campaign referred to Ramaswamy’s own book, ‘Nation of Victims,’ which was published in 2022.

‘It was a dark day for democracy. The loser of the last election refused to concede the race, claimed the election was stolen, raised hundreds of millions of dollars from loyal supporters, and is considering running for executive office again,’ Ramaswamy wrote. ‘I’m referring, of course, to Donald Trump.’

‘I was especially disappointed when I saw President Trump take a page from the Stacey Abrams playbook,’ Ramaswamy wrote. ‘His claims were just as weak as Abrams’.’

Ramaswamy’s tune on the Capitol riot seemed to change in June and July as he seemed to take a far more sympathetic view of the incident.

‘I will pardon *all* Americans who were targets of politicized federal prosecutions & those who were denied due process. This includes all peaceful Jan 6 protesters. It’s important that every candidate is clear about where we stand on the hard issues, not just the standard GOP talking points,’ he wrote June 8 on X, formerly known as Twitter.

The candidate emphasized that view again in mid-July, stating that ‘pervasive censorship’ caused Jan. 6.

‘You tell people in this country they cannot speak. That is when they scream. You tell people they cannot scream. That is when they tear things down,’ he said at the time.

Ramaswamy was asked about the issue again Sunday morning during an appearance on NBC’s ‘Meet the Press.’ He said he would have championed ‘reforms’ to the voting process and made the certification of the election result contingent on passing those reforms.

This post appeared first on FOX NEWS

Former Vice President Mike Pence, competing for the 2024 GOP presidential nomination, sidestepped Sunday on whether he would support Donald Trump if the former president is convicted in any criminal case, arguing that President Biden, too, ‘has trampled on the Constitution of the United States.’ 

‘I signed a pledge to be on that stage to say I would support the Republican nominee. I remain confident, more confident after Wednesday night, that the Republican nominee will not be the former president, and we’re going to give the American people a standard-bearer for the GOP that’s going to be able to lead us to victory against Joe Biden and the radical left. I raised my hand to say I’ll support the Republican nominee,’ Pence said during an appearance on CBS’s ‘Face The Nation.’

‘I could never support Joe Biden,’ Pence continued. ‘I mean, Joe Biden’s policies have been disastrous. He and his family are under an ethical cloud themselves, and frankly, Joe Biden has trampled on the Constitution of the United States, he’s failed to faithfully execute our laws – the southern border of the United States created the worst crisis in American history, and that student loan giveaway where he was going to ask truck drivers to pay their taxes to pay off the student loans of graduate students was essentially an unconstitutional power grab that I rejected. So, I’ll support the Republican nominee, and I’m going to continue to work my heart out that it’s me.’

Pence said it was heartening to hear from fellow GOP contenders, including Florida Gov. Ron DeSantis, former U.S. Ambassador to the United Nations Nikki Haley, Sen. Tim Scott, R-S.C., and North Dakota Gov. Doug Burgum, that they agreed he ‘did his duty’ or ‘did the right thing’ in certifying Biden’s election victory amid the Jan. 6, 2021, riot at the U.S. Capitol.

During last week’s first GOP debate hosted by Fox News in Milwaukee, Pence argued that he believed Trump asked him to put him before the Constitution.

‘I’ve made it clear I had hoped that the issues surrounding the 2020 election and the controversies around Jan. 6 had not come to this, had not come to criminal proceedings. I would rather they had been resolved by the American people and the American people alone,’ Pence said on the debate stage Wednesday. ‘But no one’s above the law. And President Trump is entitled to the presumption of innocence that every American is entitled to. And we will make sure and extend that to him. But the American people deserve to know that the president asked me in his request that I reject or return votes unilaterally, power that no vice president in American history had ever exercised or taken. He asked me to put him over the Constitution, and I chose the Constitution, and I always will.’

Also, during the ‘Face The Nation’ segment Sunday, Pence condemned the recent mass shooting in Jacksonville, Florida, as ‘evil,’ vowing that if elected president he would expedite the death penalty for mass shooters. He also went after Biden for his record on inflation, record-high mortgage rates and the Afghanistan withdrawal, among other issues.

This post appeared first on FOX NEWS

Vice President Kamala Harris said Sunday that many Black Americans live every day with the fear of becoming victims of ‘hate-fueled gun violence’ in response to a gunman in Florida opening fire in a Dollar General and killing three Black people.

Ryan Christopher Palmeter, 21, arrived at a Dollar General in a predominantly Black neighborhood in Jacksonville, Florida, on Saturday with an AR-15 semiautomatic rifle, Glock handgun and tactical vest. Palmeter then shot and killed three victims in what Jacksonville Sheriff T.K. Waters described as a ‘racially motivated’ attack.

On Sunday, Harris released a statement about the shooting in which she condemned hatred and violent extremism in America, and said that Black people are often concerned about racially motivated gun violence against them when they leave their homes.

The vice president pointed out that the shooting Saturday afternoon was happening as many Americans were celebrating the anniversary of the March on Washington, the 1963 march by activists demanding civil and economic rights for Black Americans.

‘Already, federal law enforcement has opened a civil rights investigation into this attack and is treating it as a possible hate crime and act of domestic violent extremism,’ Harris said.

‘As we allow that investigation to proceed, let us continue to speak truth about the moment we are in: America is experiencing an epidemic of hate,’ she continued. ‘Too many communities have been torn apart by hatred and violent extremism. Too many families have lost children, parents, and grandparents. Too many Black Americans live every day with the fear that they will be victims of hate-fueled gun violence—at school, at work, at their place of worship, at the grocery store.’

Harris also urged congressional lawmakers to ban assault weapons and pass ‘other commonsense gun safety’ measures.

‘Every person in every community in America should have the freedom to live safe from gun violence,’ she said.

The victims of the shooting on Saturday were 52-year-old Angela Michelle Carr, 19-year-old Anolt Joseph Laguerre Jr., and 29-year-old Jerrald De’Shawn Gallion.

According to officials, Palmeter was once involved in a 2016 domestic violence incident and was once involuntarily committed to a mental hospital for examination. Images of the shooting shared on the sheriff’s Facebook page also show white lettering and symbols painted on the gunman’s AR-15 rifle, including what appears to be a swastika.

Waters addressed calls for firearm bans in a news conference held Sunday afternoon.

‘The story’s always about guns. People are bad,’ he said. ‘This guy’s a bad guy. If I could take my gun off right now and lay it on this counter, nothing will happen. It’ll sit there. But as soon as a wicked person grabs ahold of that gun and starts shooting people with it, there’s the problem. The problem is the individual.’

President Biden also released a statement Sunday decrying White supremacy.

‘Even as we continue searching for answers, we must say clearly and forcefully that white(sic) supremacy has no place in America,’ Biden said. ‘We must refuse to live in a country where Black families going to the store or Black students going to school live in fear of being gunned down because of the color of their skin. Hate must have no safe harbor. Silence is complicity and we must not remain silent.’

Florida Gov. Ron DeSantis, also a Republican presidential candidate, called the shooter a ‘scumbag’ in remarks on Saturday.

‘This shooting, based on the manifesto they discovered from the scumbag that did this, was racially motivated,’ DeSantis said. ‘He was targeting people based on their race. That is totally unacceptable.’

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Former White House chief of staff Mark Meadows will appear in court in Georgia for the first time Monday, making a bid to transfer the case against him to federal court.

Meadows, who faces charges of interfering in Georgia’s 2020 election, argues that he was acting in his capacity as a federal official at the time and is therefore immune to prosecution.

Meadows’ attorneys plan to request that U.S. District Judge Steve Jones move the case to the federal system, at which time they would then move to have the case dismissed, according to the Washington Post.

Fulton County District Attorney Fani Willis indicted 18 people in addition to former President Donald Trump earlier this month. Four of those have adopted Meadows’ strategy of attempting to push their case into federal court, including former Justice Department official Jeffrey Clark and former Georgia Republican Party chairman David Shafer.

Prior to his surrender last week, Meadows had filed an emergency motion seeking to prevent his ‘imminent arrest,’ which was denied. Meadows had sought to stall his arrest pending the outcome of an evidentiary hearing over the possibility of his RICO charges being moved from state to federal court, FOX 5 Atlanta reported.

The Atlanta Journal-Constitution reported that Georgia Secretary of State Brad Raffensperger was also notified last week that he will be subpoenaed to testify during Monday’s court hearing.

Willis’ indictment against Meadows cited a Jan. 2, 2021 phone call in which Trump requested that Raffensperger ‘find votes’ to overturn the state’s election results. Meadows was on the phone call as well, and Willis argues that his participation constituted illegal solicitation of a state official to violate his oath.

Lawyers for Meadows have responded that the actions he took were ‘directly related’ to his role as White House chief of staff, and that the case constitutes ‘state interference in a federal official’s duties.’

Fox News’ Danielle Wallace contributed to this report.

This post appeared first on FOX NEWS