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 The airline industry has been hit hard by COVID-19. Border closures and shelter in place measures brought the industry to a standstill during the virus' initial wave, as air traffic was grounded across the globe.Whether the pandemic has peaked or not, United Airlines (UAL) upcoming flight schedule acknowledges normality is still a way off. Air travel volume remains weak and currently United's cash burn rate amounts to roughly $40 million a week. As a result, United has issued warnings that almost half of its workforce might be furloughed in the fall.Further keeping air travel rates down are recent measures by New York, New Jersey, and Connecticut which require any travelers from states with COVID-19 test rates above 10% to self-quarantine for two weeks. The measures have resulted in a slew of discount offers from United.However, recent United data shows the promise of low prices is not enough to entice the public while the risk of quarantine still looms. As a result, United's August schedule is expected to drop by 65% compared to last year's capacity. This is lower than the expected 60% drop United were anticipating only a week ago.Still, the latest figures are an improvement on June and July's numbers, which were down year-over-year by 88% and 75%, respectively. United have said the rest of 2020's schedule will probably resemble that of August's.What this means to Deutsche Bank analyst Michael Linenberg, is that more uncertainty lies ahead.The 5-star analyst said, "The bottom line is that, a
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Gilead Sciences (GILD, 2.2%) once again helped inject a little life into stocks Friday with the help of its coronavirus treatment remdesivir.
The major indices appeared poised for losses in early trading amid another record surge in U.S. COVID-19 cases, as well as yesterday's comments from Treasury Secretary Steven Mnuchin indicating that the White House wants to cap unemployment benefits in the next round of coronavirus stimulus.
65 Best Dividend Stocks You Can Count On in 2020
However, Gilead announced that an analysis of previously released clinical trial data revealed an "important finding": namely, a 62% reduction in mortality risk in coronavirus patients compared to the current standard of care.
The news was music to Wall Street's ears; financial stocks including JPMorgan Chase (JPM, 5.5%) and Goldman Sachs (GS, 4.5%) contributed to a 1.4% jump in the Dow Jones Industrial Average to 26,075. The S&P 500 finished 1.1% higher to 3,185, while the small-cap Russell 2000 jumped 1.7% to 1,422.
The Nasdaq Composite gained a more modest 0.6%, but that marked a third straight close at record
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 Oakmark Funds recently released its second-quarter investor letter - a copy of which is available for download here. In their recent letter to investors, Oakmark Funds announced that OAKMX portfolio returned 23.0% in the second quarter, as compared to 20.5% of the S&P 500 Index. You should check out Oakmark Funds top 5 stock picks […]
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Dow Jones Set To Post Weekly Gain; Netflix Stock Soars To New Highs Investor's Business DailyDow jumps 360 points on virus treatment hope, Netflix leads Nasdaq to another record CNBCS&P 500 opens little changed around 3,150 FXStreetGoldbugs Take Center Stage in Markets, but the Real Show Is With Energy The Wall Street JournalNasdaq Hits Another New High, Led by Netflix Investor's Business Daily
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 American Airlines Group Inc. is threatening to cancel some orders of the Boeing Co. 737 Max jet due to financing troubles, The Wall Street Journal reports. American Airlines ordered 17 of the planes for delivery this year, but has struggled to secure the money to pay for them. With travel halted for many consumers due to the coronavirus, airlines and other companies in the travel industry have been under pressure. United Airlines Holdings Inc. announced this week that it could furlough 36,000 workers in October due to diminished demand. American Airlines stock stock has plummeted more than 60% for the year to date. Boeing shares are down 46.3%. And the Dow Jones Industrial Average has slumped 9.5% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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