** Shares of U.S. airlines rise amid broader market weakness early Mon as oil prices extend recent slump
** Brent crude futures LCOc1 down 2.3% to $59.86 and U.S. West Texas Intermediate crude CLc1 off 2.6% to $56.80 by 10:34 am ET after OPEC+ decided over the weekend to accelerate oil output hikes
** Last week, Brent and WTI shed 8.3% and 7.5%, respectively, on concerns of rising supply after Saudi Arabia signaled it could cope with a prolonged lower price environment O/R
** Shares of United Airlines UAL.O up 3% on the session. On Apr 16, UAL said it expected to achieve its full-yr adj profit forecast if demand remained stable and fuel prices stayed at then current levels, despite economic uncertainty stemming from a global trade war
** Delta Air Lines DAL.N up >3%, American Airlines AAL.O up 3%, Southwest Airlines LUV.N up 1%, Alaska Air ALK.N up 4% on Mon
** In Mar, airlines said bookings for premium and long-haul international travel were still holding up, adding that falling fuel prices would help mitigate slowing demand
** S&P 1500 airlines index .SPCOMALI up 2.7% on the session, trimming YTD loss to ~22%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.