The U.S. stock market is moving modestly higher today, as some traders speculate that an agreement between Greece and its creditors may still be reached. The cash-strapped nation was unable to pay the necessary installments to the IMF today, and this will likely hamper access to additional emergency funds. Meanwhile, Greece, unsure about accepting the most-recent proposal, plans to hold a referendum on Sunday, to better define its position on the matter. At just past noon in New York, the Dow Jones Industrial Average is ahead 20 points; the S&P 500 Index is up four points; and the NASDAQ is higher by 21 points.
Americans continue to be generally satisfied with their economic prospects, it would seem, at least according to data issued this morning by the U.S. Conference Board. On point, this research organization's Consumer Confidence Index jumped to a reading of 101.4 in this now-concluding month.
Business prospects at JetBlue Airways Corporation (JBLU) look bright. The company has been benefiting from lower fuel costs over the past few months, which has boosted earnings. Demand remains strong, thanks to the company’s excellent customer service and industry-leading amenities. Management has also done a great job of managing costs. Airline traffic, measured by revenue passenger miles, remains high, rising 11% in the March quarter to 9.6 billion. The company is also expanding its premium service offerings, which should help to expand margins.