For: May 5, 2026
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed lower and oil prices surged yesterday on fears the Iran conflict will flare up again. At the closing bell, the Dow Jones Industrial Average lost 557 points to 48-941. The S&P 500 fell 29 points to 72-00. The Nasdaq lost 46 points to 25-067.
>>Economic Reports Due
(Undated) -- Employers aren't firing many workers lately, but they're not hiring many either. That's expected to be highlighted in a handful of key reports this week. They start with today's "JOLTS" or Job openings, Layoffs and Turnovers report. It's seen as a deeper dive into the Labor Department's job numbers. We get the latest numbers from payroll processor ADP on Wednesday. this one measures hiring only at private employers. Look for weekly jobless claims on Thursday, which experts consider a proxy for layoffs, and then the government report on Friday.
>>Spirit Airlines Doomed By 'Recent Geopolitical Events'
(Dania Beach, FL) -- Spirit Airlines says "a massive and sustained increase in fuel prices" forced the carrier to ground its fleet. Court papers filed Monday show the airline pointed to "recent geopolitical events" as a factor behind the shutdown, but it did not specify the nature of those events. According to the filings, "it became clear on Thursday that sufficient incremental liquidity would not be found, and that there were no longer any viable paths to a restructuring or continued operations." Now the budget carrier is requesting the authority to "take necessary steps to wind down its fleet operations." Spirit ceased operations early Saturday morning.
>>Gas Prices On The Rise
(Heathrow, FL) -- Prices at the pump continue to climb. Today's national average for a gallon of regular is four dollars and 48 cents, according to Triple-A. A week ago we were at four-17 a gallon. Drivers in California are still seeing the highest average in the nation at six-dollars-13 cents.
>>State Supreme Court Rules Against Millionaires Tax Referendum
(Olympia, WA) -- The Washington State Supreme Court has ruled against a group trying to get voters to decide the millionaires tax. The tax was approved by the Legislature and the group Let's Go Washington was trying to get it on the ballot. The court ruled that previous court rulings show tax items are an issue for the Legislature and not voter referendums. The nine-point-nine percent tax takes effect in 2028. A lawsuit over the legality of the new tax is also pending.
