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U.S. Travel Stocks Underperform Amid Christmas Cancellations

  • More than 2,800 flights canceled over the holiday weekend
  • Shares of United Airlines, Royal Caribbean retreat on Monday
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Chart of the Day: Airline Recovery Trade Falters
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U.S. travel stocks retreated Monday, with Delta Air Lines Inc. and American Airlines Group Inc. among the biggest decliners, after hundreds of flights were canceled over Christmas due to a spike in Covid-19 cases.

United Airlines Holdings Inc. fell 0.7% at 11 a.m. in New York, while Delta lost 0.7% and American Airlines dropped 0.9%. Among cruise-ship operators, Carnival Corp. declined 1%, Royal Caribbean Cruises Ltd. retreated 1.3% and Norwegian Cruise Line Holdings Ltd. fell 2.2%. The S&P Supercomposite Airlines Index and an index of casinos and gaming names, which benefit from a reopening economy, are lower Monday, bucking the broader market that’s heading higher