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US airlines again cancel more than 1,000 flights on second day of cuts tied to government shutdown AP NewsShutdown Casts a Shadow Over Travelers' Thanksgiving Flight Plans The New York TimesLive updates: Airlines cut flights, cancellations mount as government shutdown disrupts travel — latest on impact NBC NewsFAA-mandated flight cancellations to worsen next
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‘Stop playing politics': Democrats rip court-extended pause to SNAP funding PoliticoSupreme Court lets Trump pause full SNAP payments for now CNNSupreme Court Ruling on SNAP Benefits Leaves Families in Limbo The New York TimesTrump news at a glance: supreme court blocks full Snap food aid payments following White House request The GuardianNYS Snap payment schedule WWNY
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Democrats swept elections far beyond the big races in referendum on Trump The Washington PostOpinion | There Is No One-Size-Fits-All Template for Winning Elections The New York TimesZohran Mamdani's win is a template for Democratic revival MSNBC NewsCapehart and Gorman on Democrats' election wins and Trump's push to end the filibuster PBS
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Here's a list of flights canceled at MSP airport on Saturday Bring Me The NewsSee Where Flights Have Been Canceled as Government Shutdown Drags On The New York TimesFood aid recipients face new uncertainty as flight cancellations pile up amid government shutdown CNNFAA cuts to air traffic begins Friday as government shutdown continues Fox News
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Travelers face mounting delays this weekend as airlines cut hundreds of flights due to the shutdown. Here's what to know CNN‘This should not be happening': As shutdown disrupts air travel, many forced to change plans The Boston GlobeFlight cancelations to worsen next week if shutdown continues CNBCSee Where Flights Have Been Canceled as Government Shutdown Drags On The New York Times
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It was a choppy start to the short trading week, with stocks spending time in both positive and negative territory Tuesday. Bears gained the upper hand in the afternoon, though, with the three major indexes ending another day in the red.
SEE MORE The ESG Investing Backlash
Although this week's economic calendar is fairly thin, data from the Institute for Supply Management (ISM) this morning showed that activity in the services sector ticked up to 56.9% in August - the highest level since April - from July's 56.7%.
"This is the most recent piece of data to suggest the economy remains resilient and as such the market takeaway is that this gives the Fed more room to continue raising rates," says Michael Reinking, senior market strategist for the New York Stock Exchange. "Futures markets are now pricing in a 75% chance of a 75 basis-point hike later this month from a coin flip late last week." A basis point is one-one hundredth of a percentage point.
In reaction to today's ISM data, the 10-year Treasury yield rose to its loftiest level since mid-June. This, in turn, weighed on shares in the communication services (-1.3%) and technology (-0.6%) sectors, with names such as streaming giant Netflix (NFLX, -3.4%) and chipmaker Intel (INTC, -2.8%) seeing notable declines.
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As for the major indexes, the tech-heavy Nasdaq Composite fell 0.7% to 11,544, its seventh straight loss.
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