Southwest raises upgraded boarding fee

The markets surged during the midday with the Dow rocketing 204 points to 25,002. Nasdaq added 9 points to 7228.


Southwest has raised the fee that it charges passengers for a last minute upgraded boarding position. Southwest does not assign passenger seats but instead boards passengers in three groups allowing passengers to choose their own seats. Passengers in high demand markets can pay $50 one way to board in the first group.


Toys R Us blamed disappointing holiday sales for plans to close an additional 200 stores. The toy retailer filed for Chapter 11 bankruptcy protection in September 2017 and announced plans to shutter 182 stores in January 2018. Severance packages will not be offered to hourly workers who will lose their jobs due to the store closures.


UPS has partnered with Workhorse Group to design and build electric delivery trucks. The first set of fifty vans with a range of 100 miles will be tested in Atlanta, Dallas and Los Angeles. UPS expects the use of electric vehicles to improve fuel efficiency by nearly 400%.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 12 points to 2,713. Bitcoin collapsed $679 to $9,806.


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