Dow retakes 36,000, S&P 500 carves out intraday record, as stocks shake off COVID-led flight cancellations to climb
US stock benchmarks rose midday Monday, with gains in technology shares helping to establish an intraday record for the S&P 500, which could lead to its 69th record close of 2021.
But travel-related names were under pressure after surging COVID cases triggered hundreds of U.S. flights to be scrapped.
Hundreds of flights were canceled across the globe over the weekend as surging COVID infections triggered quarantines for airline staff. Shares of American Airlines AAL, -0.79%, Delta Air Lines DAL, -0.87%, Jetblue Airways Corp JBLU, -0.82%. , and United Airlines UAL, -0.92% were down, with cruise operator Carnival CCL, -1.63% also trading lower.
The fact is that no one wants to see another total lockdown as they have an adverse influence on the economy. The world is still suffering from supply bottleneck shortages due to COVID restrictions introduced last year.
@TransAmericanFriendship
