TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Wednesday, January 17.

Related: Stock Market Today: Stocks slide as markets reprice Fed interest rate cut bets; Retail sales surge

Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.

Investors are reacting to better than expected retail sales figures. Retail sales climbed 0.6 percent in December, above Wall Street expectations of 0.2 percent. This report shows just how resilient the consumer was during the holiday season despite persistent inflation.

In other news, a federal judge has ruled against JetBlue’s acquisition of Spirit Airlines. The announcement of the blocked $3.8 billion merger sent Spirit’s stock plunging. The judge’s ruling laid out several concerns, including what it would do to fares.

Attorney General Merrick Garland said, “Today’s ruling is a victory for tens of millions of travelers who would have faced higher fares and fewer choices had the proposed merger between JetBlue and Spirit been allowed to move forward.”

Through a number of deals, the ten major air carriers that existed in 1999 have been consolidated down to four – American Airlines, United, Delta, and Southwest. Those four airlines are responsible for roughly 80% of U.S. air traffic. JetBlue has argued that its deal with Spirit would only lower prices for flyers, as it would bring more competition to the industry. The company says it is reviewing the court’s decision and evaluating its next steps.

There is one other merger looming in the airline industry, with a proposed $1.9 billion deal looking to combine Alaska Airlines and Hawaiian Airlines.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.