Sixty-seven individuals are presumed dead following a tragic collision between an American Airlines regional jet and an Army helicopter late Wednesday night. This incident has intensified concerns over the increasingly congested U.S. airspace, after a series of recent near-misses involving commercial aircraft. The National Transportation Safety Board (NTSB) is spearheading the investigation as they seek to determine the cause of this devastating accident.
The precise cause of the collision remains unknown, with NTSB officials gathering critical information to piece together the events that led to this tragedy. The accident underscores the urgent need for addressing airspace congestion, as safety concerns rise amidst an increasing number of aircraft sharing the skies.
In other news, President Donald Trump's impending tariffs on Canada and Mexico have stirred economic discussions. These tariffs, set to take effect on Saturday, notably exclude oil, as clarified by President Trump.
"Oil is going to have nothing to do with it as far as I'm concerned." – President Donald Trump
This decision leaves the energy sector somewhat relieved, while other industries brace for potential impacts from the tariffs.
Meanwhile, Apple's financial health continues to shine as its services revenue experienced significant growth. In its fiscal first quarter of 2025, Apple reported a 14% increase year-over-year in this segment, which includes subscriptions, warranties, and licensing deals. The company anticipates continued growth in the "low double digits" for the fiscal second quarter, emphasizing the critical role of its services division as a profit engine.
In the financial markets, optimism prevailed with encouraging earnings reports fueling investor confidence. The S&P 500 has risen 3.2% so far this month, while the Nasdaq Composite and Dow have added 1.9% and 5.5% respectively. Additionally, Nasdaq-100 futures rose 0.77% in premarket trading, indicating a positive start for stocks on Friday morning.