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.
Watch More with TheStreet: