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Nov. 16, 2020, 7:21 a.m. EST

Airline stocks jump after upbeat news on potential COVID-19 vaccine

Shares of airlines took flight Monday, following upbeat efficacy data on Moderna Inc.'s COVID-19 vaccine candidate. The U.S. Global Jets ETF (PSE:JETS) surged 4.2% in premarket trading, after being up 2.6% just before Moderna said its mRNA-1273 COVID-19 vaccine demonstrated 94.5% efficacy, and that it can be stored for longer times at standard refrigerator temperatures. Among the more active air carrier stocks, American Airlines Group Inc. (NAS:AAL) ran up 6.4%, Delta Air Lines Inc. (NYS:DAL) climbed 4.6%, United Airlines Holdings Inc. (NAS:UAL) hiked up 7.5%, JetBlue Airways Corp. (NAS:JBLU) soared 8.1%, Southwest Airlines Co. (NYS:LUV) jumped 5.5% and Spirit Airlines Inc. (NYS:SAVE) advanced 8.2%. The rally comes as futures (CME:ES00) for the S&P 500 (S&P:SPX) rallied 1.2%.

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