The U.S. Global Jets ETF climbs more than the broader stock market Tuesday, lifted by big gains from beaten down Delta Air Lines Inc., American Airlines...
The U.S. Global Jets ETF climbed more than the broader stock market Tuesday, lifted by big gains from beaten down Delta Air Lines Inc., American Airlines Group Inc. and United Airlines Holdings.
Those... The U.S. Global Jets ETF climbed more than the broader stock market Tuesday, lifted by big gains from beaten down Delta Air Lines Inc., American Airlines Group Inc. and United Airlines Holdings. Those same three airlines have been battered in the bear market this year, taking a harder hit than the S&P 500 as of the third quarter’s end. For example, shares of American were down about 33% this year on Sept. 30, the day the S&P 500 closed at its 2022 low. That had steepened the U.S. stock-market benchmark’s losses this year to almost 25% through September.
Southwest Airlines Co.’s domestic fares were up 8.7% over the same period to $317 one-way, while Alaska Air Group Inc. rose 6% to $416 and Delta fares saw a more modest rise of 4% to $487 one-way, the Deutsche note shows. “Both American and United were flat to last week.”
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