Another “Good News, Bad News” Kind of Day On Wall Street: Crude Drops While Stocks Do the Same


As of this posting, airline stocks are mixed in trading today as the market has turned downward as a result of more bad banking news.

Why anyone in the market would think that all the bad news about banks was already “out there” is beyond me.

Today Citibank and Bank of America are the two hot topics du jour.

But for the airlines — there is a bit of very good news.

As more estimates of energy demand continue to trickle in — and as the numbers continue to show a growing drop in that demand being forecast — the price of crude oil continues to drop.

As of this posting the price of crude is trading at around 34.64/barrel. Can you believe it? Yep, it’s true. Happy days are here again folks!

Well, maybe not. But in terms of airline economics — this is very good news.

Biggest loser as for the airline sector as of this posting is Mesa Air Group. The stock is down about 11% for the day as we post this — hovering around 18 cents and change.