Stock Markets Open Mixed as American Cuts Flights, Goodyear Deals With Boycott
The stock market has shown time and time again that it's resilient even in the face of significant uncertainty. With the COVID-19 pandemic and its economic impact continuing to make the future unpredictable, you'd think major benchmarks would be under more pressure. Yet after a modest decline Wednesday, indexes bounced back from early losses Thursday morning to hover near the unchanged level. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 18 points to 27,675. However, the S&P 500 (SNPINDEX: ^GSPC) managed to rise 2 points to 3,377, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 57 points to 11,204.
There wasn't a whole lot of market-moving news Thursday, but a few companies did garner some attention. American Airlines Group (NASDAQ: AAL) is having to deal with not knowing what will happen with federal aid after the end of September, and some of its actions aren't inspiring confidence among investors. Meanwhile, Goodyear Tire & Rubber (NASDAQ: GT) is doing what it can to offset calls for a boycott of its tires.
Shares of American Airlines Group fell 2%. Investors have wondered what the air carrier would do after its commitments under the federal aid packages it received end at the beginning of October, and today, American gave them a glimpse of what to expect.
Source Fool.com
