Advertisement
U.S. markets open in 5 hours 18 minutes
  • S&P Futures

    5,209.25
    -5.50 (-0.11%)
     
  • Dow Futures

    39,227.00
    +4.00 (+0.01%)
     
  • Nasdaq Futures

    18,188.75
    -42.75 (-0.23%)
     
  • Russell 2000 Futures

    2,047.20
    -2.60 (-0.13%)
     
  • Crude Oil

    82.54
    -0.18 (-0.22%)
     
  • Gold

    2,158.50
    -5.80 (-0.27%)
     
  • Silver

    25.16
    -0.11 (-0.44%)
     
  • EUR/USD

    1.0855
    -0.0021 (-0.20%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.52
    +0.19 (+1.33%)
     
  • GBP/USD

    1.2700
    -0.0029 (-0.23%)
     
  • USD/JPY

    150.3220
    +1.2240 (+0.82%)
     
  • Bitcoin USD

    64,398.95
    -3,583.96 (-5.27%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,722.55
    0.00 (0.00%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

Grounded Flights Stress Travelers but Not the Economy: Jeff Macke

Grounded Flights Stress Travelers but Not the Economy: Jeff Macke

Today, the day before Thanksgiving, is the single busiest travel day of the year, according to AAA's annual travel outlook. But, as if right on cue, mother nature has unleashed a massive and deadly storm that is threatening travel this holiday.

More than 300 flights have been cancelled and nearly 1,000 have been delayed already today, according to Flightstats.com. That follows 284 cancellations yesterday and more than 6,500 delays.

Related: Top U.S. Airports to Be Stranded In During a Flight Delay

AAA projects that 43.4 million Americans will be traveling this Thanksgiving weekend, down slightly from last year. The majority of those people (38.9 million) will be driving, with the rest of traveling by air (3.14 million).

So what does this deadly storm mean for the economy? In the accompanying clip, Yahoo Finance's Lauren Lyster and Jeff Macke discuss just that.

Median spending is expected to be down roughly 7% to $465, AAA reports, as more than tw0-thirds of people plan to spend time with family and friends.

According to Macke, the cost of all the travel delays will be a big whopping goose egg.

Related: American Cancels Hundreds of Flights: Are Pilots to Blame?

Most people will be driving today and only a tiny fraction of people are flying, he notes. On top of that, even while people are delayed at the airports, they will be on their smartphones and buying goods and services as they wait.

The storm's impact on lost wages the economy will be minimal at around $15 million, says Macke.

Do you agree? Tell us what you think in the comment section below!

And don't forget to follow us on Twitter and Facebook!

More from The Daily Ticker

Stocks Are Headed Even Higher: Michael Holland

Abolish Tipping to Eliminate the $2.13 Minimum Wage

How Three 20-Somethings Can Help Obama Fix HealthCare.gov

How to Never Pay Full Price for Anything --Ever Again

Advertisement