United Airlines furloughed about 13,000 workers and American Airlines furloughed approximately 19,000 employees. House Speaker Nancy Pelosi and Secretary Steven Mnuchin still have not reached an accord on the next round a stimulus aid for the American people.
Delta stock moved up today 0.2% and American Airlines rose 1%, while United Airlines added 0.1%. These airline stocks have tested or found support at their 50-day lines. Composite and EPS Ratings still are weak.
Senate Majority Leader Mitch McConnell said Republicans and Democrats are still far apart on terms of the stimulus.
The recovery seems to be slowing as 837,000 Americans file for unemployment last week. In more bad news, Disney (DIS) announced it would lay off 28,000 workers this week.
Data from Bureau of Economic Analysis reports Personal Income and Outlays, August 2020
Personal income decreased $543.5 billion (2.7 percent) in August according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) decreased $570.9 billion (3.2 percent) and personal consumption expenditures (PCE) increased $141.1 billion (1.0 percent).
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