US airlines climb as oil prices retreat from five-month highs
XLY•US airline shares rose as oil prices fell by $3 a barrel from five-month highs. American Airlines gained 7.2%, Southwest Airlines rose 5.3%, and the S&P Composite 1500 Airlines Index remained nearly 3% lower year to date.
1. Airline shares rise
US airline shares advanced as oil prices retreated by $3 a barrel after Brent crude futures topped $111 earlier in the session. American Airlines rose 7.2%, Southwest Airlines gained 5.3%, JetBlue Airways advanced 6.2% and Alaska Airlines climbed 4%. Delta Air Lines and United Airlines each gained about 4.7%. Including the session's gains, the S&P Composite 1500 Airlines Index was down nearly 3% year to date.
