Why Airline Stocks Are Higher Today

Airline stocks are flying higher for the second Monday in a row, and the explanation for today's jump is similar to last week's. This time it was Moderna out with good news concerning a COVID-19 vaccine candidate, which means the odds are improving that we're nearing the beginning of the end of the pandemic.

Shares of United Airlines Holdings (NASDAQ: UAL) and Spirit Airlines (NYSE: SAVE) both jumped more than 8% at the open Monday, and shares of Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), American Airlines Group (NASDAQ: AAL), and JetBlue Airways (NASDAQ: JBLU) all jumped 5% or more. The stocks have given up some of those gains as the morning goes on, but they are still easily outpacing the broader market.