AMR and United Down 25, Crude at $132

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Market Update Analysis:

AMR and United Down 25%, Crude at $132

Author: 123jump.com Staff
123jump.com
Last Update: 3:44 PM EDT May 21 2008

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U.S. stocks struggled after the release of weekly petroleum report. Crude oil surged above $132 a barrel on the decline in crude oil supply at the end of the last week. Airlines stocks fell after AMR, the parent of American Airlines decided to lower 12% of its capacity and retire 75 planes. AMR suggested $15 fee for each checked bag. UAL plunged 25% and Delta and Jet Blue declined as well.

In South Korea Kospi Index decreased 25.64 or 1.37% to close at 1,847.51, in Thailand SET index closed higher 10.37 or 1.19% to 884.19 and Indonesia JSE Index edged decreased 16.25 or 0.65% to 2,494.71. Sensex index in India increased 12.98 or 0.08% to 17,243.16.

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