Today was a good day for worldwide investors, with nearly all global markets rising. The recession continues in China, but after a rough week all of their indexes rose. The Dow, NASDAQ, and S&P rose 1.9%, 1.6%, and 1.7% respectively. Let's recap.
The biggest movers in the market today were NMC Health, rising almost 38%, and Axon Enterprise, rising about 22.5%. Today was a good day for airline stocks as well. Biggest movers in the airline industry were Boeing, Spirit, American Airlines, up 3.3, 8, and 3.6 percent respectively. Here is a list of significant movers in the industry today.
Allegiant Travel (NASDAQ:ALGT),United Airlines Holdings (NASDAQ:UAL) andJetBlue Airways (NASDAQ:JBLU) closed up more than 11%, Hawaiian Holdings (NASDAQ:HA) up more than 9%. Southwest Airlines (NYSE:LUV), American Airlines Group (NASDAQ:AAL), Alaska Air Group (NYSE:ALK), and Delta Air Lines (NYSE:DAL) were each up about 5% or more.
So why did the airline industry take a dip, and why is it back up so soon? Here's why: It's no secret why the airline industry took a tank earlier this week. Covid-19 screeched travel to a halt; companies were left scrambling for profits.There was- and still is- little travel; less demand for new airplanes, and for maintenance services on existing airplanes, for Boeing; and fewer parts needed. Like many industries, airlines lost billions, scrambling for money-saving tactics. Not to mention, recommendations to sell from the world's most famous investor- Warren Buffet. All this grim news, why did the stocks rise? The same reason the market has been in the green for the past few days. Hopeful news about Coronavirus: States reopen, and cases are declining in many states, possible vaccines or new treatments are in discussion. Hopefully the news can buoy the market even higher, after such a grim few weeks.
In other news, Apple's 3 month chart is almost positive, but their year remains positive- Apple is a great example of a company able to stay afloat during the pandemic- partly due to their reliance on e-commerce sales. After a nationwide close of Apple stores, big news for the company: They've announced they will reopen their stores next week. Famous investors have outspoken about a positive post-pandemic economy, and one thing is certain- if this keeps up, the USA economy will do what it's famous for- not look back, and keep on booming and churning forward.
Things are looking hopeful for Coronavirus: States that previously remained partially open are reopening. For example, parts of South Florida are now reopening after remaining close for a period of time, while the rest of the state was opening. A post-pandemic state may not mean total economic chaos- things are looking hopeful.
Summary: The market rose today, leading it was the airline industry, even after a rough week. The biggest movers were Spirit, Boeing, and American Airlines, rising on hopeful Coronavirus news. The airline industry took a dip simply because of the situation with Coronavirus: the industry was not needed, and losing profits. The Coronavirus situation is looking hopeful, and states and stores are beginning to open, having investors and citizens keep their fingers crossed of a positive post-pandemic economy.
If you enjoyed this article, subscribe to BizRoca to stay on top of all the important stories- 100% free, 100% unbiased and real news. And don't forget to share with your friends!