Airlines Showing Strength In Wake Of Market Plunge (DAL, UAL, LUV)

As it seems that all assets are now correlated to each other, regardless of impact, oil is moving lower, along with equities, as S&P has revised its outlook on U.S. debt to negative, but reaffirmed the rating at AAA. Keeping this in mind, airline stocks are holding up well, with a couple even being positive, as oil and fuel prices are the single largest expense an airline has. At last check, shares of Southwest Airlines Co. LUV were off 11 cents to $11.52, a loss of nearly 1%, while shares of UAL CORP UAL are higher on the day. Shares of Delta Air Lines, Inc. DAL are down 11 cents to $9.14, a loss of 11 cents or 1.2% this Monday morning.