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NEWS
Market Waves Potential Red Flags

It was the first broad-based down day for the U.S. major indexes, with mega-cap tech finally catching down to the weakness small-caps have been experiencing. The market continues to digest recent economic data and commentary, though earnings and year-end positioning continue to drive most stocks. After hours, Bitcoin cracked back below 100k in rapid fashion, keeping this Friday eve interesting. 👀

Today's issue covers what drove the airline sector to new heights, this market’s magazine cover madness, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 5 of 11 sectors closed green, with consumer discretionary (+0.82%) leading and materials (-1.32%) lagging.

And here are the closing prices: 

COMPANY NEWS
Airline Stocks Get An Upgrade ✈️ 

Airline stocks have had their time in the sun recently, with today’s news giving their shares another nice upgrade to new cycle highs. 👍️ 

American Airlines and Southwest both raised fourth-quarter guidance, citing robust travel demand and cost controls helping to boost margins. In addition, several analysts upgraded various airline stocks this week, ramping up sentiment across the sector and keeping the momentum going.

American Airlines led today’s gains, rising 17%, and ‘extremely bullish’ sentiment on Stocktwits suggests traders are looking for further upside. 🤑 

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