US Airline Sector Trades Higher After Monthly Traffic Data

Airline stocks traded mostly higher Friday, gaining on the heels of August traffic reports from United, American and Southwest showing that the carriers' cuts to capacity overtook further declines in demand.

At last check, the NYSE Arca Airline Index rose 1.3% to stand at 23.97 points. All but one of its 13 components was on the rise.

In the last year, the sector benchmark has moved in a range of 28.22 to 12.62 points.

Helping color the trading, the Labor Department earlier reported that the U.S. national unemployment rate hit a 26-year high in August, though the monthly decline in nonfarm payrolls - 216,000 jobs - was the smallest in a year and represents further economic stability.

Read Full Article from Wall Street Journal

- Posted: 2009-09-04 10:04:33

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