Wall Street shook off geopolitical worries to trade at new intraday records. Trading had been shaky earlier in the day following a terror incident in London and after North Korea executed its latest missile test.
The airline sector was under pressure after JPMorgan downgraded American Airlines Group Inc. (AAL) and United Continental Holdings Inc. (UAL) to NEUTRAL on weaker pricing and higher fuel expenses. Analysts are uncertain the two airlines can meet fourth-quarter estimates.
Consumer sentiment eased in September after hitting its highest level since January a month earlier. The decline in sentiment was mostly tied to weaker confidence in the economic outlook.
Carnival Corp. (CCL) slumped after Credit Suisse downgraded its rating to NEUTRAL from OUTPERFORM. The firm sees Hurricane Irma's damage in the Caribbean hurting demand for the cruiseliner. Terrorist attacks in Barcelona and the North Korea threat could contribute.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
