An Early Look at Airline Stocks, Oil Prices, and Wall Street Enough to Send One Under the Covers

Home prices post record 15.3% drop

Stocks tank along with confidence

Consumer confidence tumbles to 16-year low

Crude rises in volatile trading

Okay…..just went to check on where oil was trading, and those were the financial headlines that hit me in the face. Kind of makes you want to get back in bed and pull up the covers.

Don’t think it’s going to be a good day for the airline stocks — as oil futures were up before trading began and prices are up, as of this posting. Currently oil is up a little more than 50 cents, trading at 137.25.

Parting the red sea of losses that are stacking up already in the airline sector, ExpressJet is leading the pack. The airline’s shares continue to get just hammered. Shares here are now down 13% already, trading at 88 cents. And how much was that offer that SkyWest had on the table earlier this spring for ExpressJet? Yeah. It was for a lot more than 88 cents.

By the way, lost in all the hubbub of rising oil prices, I know it is June, and we are looking at record heat across much of the country — but just a little peek at what will begin to affect some of you just a scant three months from now.

Know where a gallon of heating oil is trading today? 3.83/gallon.