Morning Business Report: Southwest policy change, markets rise, Super Bowl betting surge

Starting today, Southwest Airlines is rolling out a controversial policy change that will increase ticket costs for some plus-size passengers.

(LILAMAX)- Starting today, Southwest Airlines is rolling out a controversial policy change that will increase ticket costs for some plus-size passengers. Under the new rules, travelers who cannot fit between a seat’s armrests will be required to purchase an additional seat at the time of booking.

Southwest says it is notifying customers who previously used its extra-seat policy that they should now buy the additional seat in advance to guarantee space. The move marks a significant shift from the airline’s previous “Customer of Size” policy, which allowed passengers to either purchase an extra seat with the option of a later refund or request a free additional seat at the airport.

Meanwhile, a new New York Times/Siena poll suggests many Americans believe the American Dream is slipping further out of reach. Aside from the oldest generation, most respondents say it is now more difficult—if not nearly impossible—to get ahead. The survey found 58 percent of Americans believe education costs are out of control, while 54 percent say the same about housing.

Markets are showing early optimism during what analysts describe as a pivotal week. All major stock indexes opened higher, while gold surged to a record high above $5,000 an ounce.

Sports bettors are also gearing up as Super Bowl 60 is officially set, featuring a rematch of the 2015 showdown between the Seattle Seahawks and the New England Patriots. This time, gamblers are widely predicting a Seahawks victory. Legal betting on Super Bowl 60 is expected to exceed the record $1.39 billion wagered in 2025, fueled by the expansion of legalized sports betting to more than 38 states.

In personal finance news, the tax filing season began yesterday. Andy Phillips of the H&R Block Tax Institute says nearly all taxpayers will see at least some changes on their returns this year. The U.S. Treasury projects the average tax refund will rise by about $1,000 per household, bringing the expected average refund to roughly $4,200.