Friday, November 28, 2008

Airlines Have Nice Day on Wall Street as Crude Oil Drops 5%

It was a good day for the airline industry on Wall Street as crude oil dropped 5% due to speculation the Organization of Petroleum Exporting Countries could wait until December before slowing down production.

The AMEX Airline Index climbed up 3.2% to 20.54 points. 12 of the 13 companies listed in the AMEX Airline Index were up on the day.

The big winners were Brazil's Gol Linhas up 11% to $3.92, and Delta Air up 4.6% to $8.81.

The Markets closed early today at 1 p.m. E.T.

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