Stocks rocketed higher on Thursday following a government report that showed inflation eased last month, leading investors to hope the Federal Reserve might be able to slow rate hikes sooner rather than later. Airlines, a sector that historically has suffered during an economic slowdown, outperformed the broader averages. Shares of JetBlue Airways (NASDAQ: JBLU) traded up as much as 9%, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) were all up 4% or more as well.
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Southwest Airlines (LUV) reports better-than-expected earnings per share for Q322. JetBlue (JBLU) delivers its first quarterly profit in Q3 since the start of the pandemic.