(MarketWatch) – 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. AAL, -4.49% rallied 4.0%, United Airlines Holdings Inc. UAL, -3.64% climbed 4.6%, Delta Air Lines Inc. DAL, -2.93% hiked up 3.5%, Spirit Airlines Inc. SAVE, -3.84% rose 4.1% and Southwest Airlines Co. LUV, -2.36% gained 2.5%.
Shares of JetBlue Airways Corp. JBLU, -2.12% 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 JETS, -1.66%, which advanced 2.5% in the premarket, has tumbled 45.5% year to date through Tuesday, while the S&P 500 SPX, -1.39% has gained 4.0%.