Tuesday, May 24, 2011

Daily News (NYSE: DAL ) (NYSE: UAL ) (NYSE: AMR )

Airline stocks fell today as oil prices rose back up, projected summer airfares were heading lower, and a volcanic cloud disturbed travel in Europe. Recently, airline stocks have benefited from the recent drop in oil prices, but today oil prices rose almost 2%. This increase in oil prices was helped by reports from Goldman Sachs and Morgan Stanley which stated prices should increase again later this year. After these reports were released Benchmark West Texas went up to $99.59 a barrel. In regards to the volcanic cloud in Europe, airlines cancelled hundreds of flights as volcanic clouds were located over Scotland. Delta Air Lines Inc. fell 14 cents to $11.09, United Continental Holdings Inc. decreased 54 cents to $25.71 and AMR Corp. fell 7 cents to $6.48. The Dow industrial average fell 25.05 points to 12,356.21, the Nasdaq fell 12.74 points to 2,746.16 and the S&P 500 fell 1.09 points to 1,316.28.

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