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Airline stocks fall, weigh on Dow transports as oil prices rise

“Airline stocks fell Monday, as rising geopolitical tensions in the Middle East helped fuel a rise in oil prices” writes Reporter Editor for marketwatch.com. Over the past three months, the correlation coefficient between the airline index and crude oil futures has been -0.87, where -1.00 would mean they always move opposite directions.The NYSE Arca Airline Index XAL, -0.97% slumped 1.1%, while crude oil futures CLM8, +0.41% rose 0.5%, after running up 1.4% last week, and closing at a multi-year high on Thursday.Among the more active airline stocks on Monday, those of Delta Air Lines Inc.
Source: marketwatch.com

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