US airlines are taking off as ticket prices rise and Spirit plummets

Plane ticket prices jumped 4% in July following a 0.1% decline in June, per this morning’s CPI report, giving airline investors some reason to cheer. Customers might not be so thrilled.

Delta Air Lines, United Airlines, and American Airlines are all up at least 8% on Tuesday, while Southwest Airlines is up closer to 4%. Smaller rivals like JetBlue and Alaska Air are also firmly in the green.

On the other end of the runway sits Spirit Airlines, which is down more than 40% on the day after issuing a going concern warning in its earnings report on Monday. Its descent is also potentially being treated as good news for the rest of the space.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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