S&P 500 top movers: American Airlines (AAL) falls sharply on furlough news, demand outlook
- S&P 500 rebounds from lows, remains on track to close in red.
- Cruise liner and airline shares suffer heavy losses on Thursday.
Wall Street's main indexes opened the day in the negative territory on Thursday as the surging number of COVID-19 cases in the US seems to be causing investors to adopt a cautious mood.
Earlier in the day, the data published by the US Census Bureau revealed that Retail Sales in June rose by 7.5% on a monthly basis but failed to provide a boost to sentiment. Meanwhile, Florida's Department of Health said there were 13,965 new coronavirus cases in the state and noted that the death toll rose by 156 to 4,782.
S&P 500 top movers
Major cruise liners' stocks, which posted impressive gains during Wednesday's rally, are suffering heavy losses on Thursday. At the moment, Norwegian Cruise Line Holdings Ltd (NCLH) and Carnival Corp (CCL) shares are down 13.4% and 9% as the biggest losers of the day.
Furthermore, American Airlines Group Inc (AAL) shares are losing 7.8% at $12.38 after the company noted slowing demand and announced that it had sent 25,000 notices of potential furloughs to frontline workers.
On the other hand, Hartford Financial Services Group Inc (HIG), Nextera Energy Inc (NEE) and Packaging Corp of America (PKG) shares are up more than 3% as the top-gainers.