Stock Market Ticks Higher; American Airlines Rallies Despite Potential Strike
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The stock market ticked higher, with several major indexes posting gains. Despite the potential strike looming over American Airlines, the company's stock rallied along with the broader market.
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The Dow Jones Industrial Average rose 0.5%, while the S&P 500 and Nasdaq Composite gained 0.4% and 0.3%, respectively.
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The market was buoyed by strong corporate earnings reports and optimism about the global economic recovery.
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The market was buoyed by strong corporate earnings reports and optimism about the global economic recovery.
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The airline's pilots union had recently voted to authorize a strike if negotiations with the company did not result in a satisfactory contract agreement
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However, investors seemed to shrug off the potential disruption and instead focused on the positive aspects of the company's business.
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Shares of American Airlines rose more than 2% on the day, indicating that investors have confidence in the company's
American Airlines has had a difficult time in recent years, with the COVID-19 pandemic severely impacting the travel industry.