US airlines advance as lower oil prices ease fuel cost worries
XLI•US airline shares rose after crude oil prices fell more than $3 a barrel, easing concerns about fuel costs. JetBlue gained 7%, Alaska Airlines rose 4%, American Airlines advanced 3.5%, and other major carriers also gained.
1. Airline shares rise
US airline shares advanced after crude oil prices fell more than $3 a barrel, easing concerns about fuel costs, a key expense for carriers. JetBlue Airways rose 7% and Alaska Airlines gained 4%; American Airlines climbed 3.5%, United Airlines 3.6%, Delta Air Lines about 2.6% and Southwest Airlines 2.4%.
2. Investors watch Washington
Investors awaited Washington's next move in the Iran war after Republicans lost control of Congress in the midterm elections. Including the session's gains, the Dow Jones US airlines sub-index was up 1.1% year to date.
