S&P 500 top movers: American Airlines (AAL) skyrockets above $16, gains more than 40%
- S&P 500 posts modest daily losses on Thursday.
- Airline shares soar higher led by American Airlines.
- Medical device manufacturer DexCom loses more than 5%.
Wall Street's main indexes stay under modest bearish pressure on Thursday as investors seem to be opting out to book their profits ahead of Friday's critical jobs report.
As of writing, the Dow Jones Industrial Average was flat on the day at 26,268 points, the S&P 500 and the Nasdaq Composite were down 0.3% and 0.45%, respectively.
S&P 500 top movers
Earlier in the day, American Airlines Group Inc (AAL) said that they are planning to fly more than 55% of its July-2019 domestic capacity in July 2020 amid "slow but steady rise" in demand. The company further noted that it's looking to fly nearly 20% of its international schedule in July.
Boosted by this development, AAL shares soared higher and was last seen trading at its best level since early March at $16.92, gaining 42%.
Led by AAL, other airline shares are posting strong gains as well. As of writing, the United Airlines Holdings Inc (UAL) and Deta Air Lines Inc (DAL) shares were up 16% and 13%, respectively.
On the other hand, medical device manufacturer DexCom Inc is down 5.9% on the day at $343.85 as the worst-performer.
AAL 15-minute chart
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
