Airline stocks jump after upbeat news on potential COVID-19 vaccine

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Shares of airlines took flight Monday, following upbeat efficacy data on Moderna Inc.’s COVID-19 vaccine candidate. The U.S. Global Jets ETF surged 4.2% in premarket trading, after being up 2.6% just before Moderna said its mRNA-1273 COVID-19 vaccine demonstrated 94.5% efficacy, and that it can be stored for longer times at standard refrigerator temperatures. Among the more active air carrier stocks, American Airlines Group Inc. ran up 6.4%, Delta Air Lines Inc. climbed 4.6%, United Airlines Holdings Inc. hiked up 7.5%, JetBlue Airways Corp. soared 8.1%, Southwest Airlines Co. jumped 5.5% and Spirit Airlines Inc. advanced 8.2%. The rally comes as futures for the S&P 500 rallied 1.2%.
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