Airline stocks surge as President Trump boosts hopes for new stimulus

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Shares of airline companies jumped in premarket trading Wednesday, after President Trump said he would immediately sign individual stimulus measures sent to him, including $25 billion in airline payroll support. Among the most active airline stocks ahead of the open, American Airlines Group Inc. rallied 4.0%, United Airlines Holdings Inc. climbed 4.6%, Delta Air Lines Inc. hiked up 3.5%, Spirit Airlines Inc. rose 4.1% and Southwest Airlines Co. gained 2.5%. Shares of JetBlue Airways Corp. ran up 6.0%, as they got a further boost from a double upgrade from J.P. Morgan, as analyst Jamie Baker swung to an overweight rating from underweight, saying “risk/reward if favorable at current valuation levels.” The U.S. Global Jets ETF , which advanced 2.5% in the premarket, has tumbled 45.5% year to date through Tuesday, while the S&P 500 has gained 4.0%.
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