The Transportation Security Administration screened more than 1.34 million people on Sunday, 86,000 more people than the same day a year ago, shortly after the World Health Organization declared COVID-19 a pandemic.
That s still 45% below 2019 levels, a sign the industry still has a long way to go before recovering to pre-pandemic levels. But TSA screenings have topped 1 million every day since Thursday, the highest volumes in a year.
United Airlines shares surged more than 8% on Monday to $60.94, the highest closing price in a little more than a year after the Chicago-based carrier said it expects its core cash burn, which strips out debt payments, to be positive in the first quarter. It had estimated in January that it would lose $19 million a day during the first three months of the year.
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This week marked one year since the World Health Organization declared the coronavirus outbreak a global pandemic, and what a year it’s been. But if you had been lucky enough to live under a rock and avoid the whole thing, the starting and ending data points for the manufacturing sector might leave you scratching your head as to what all the fuss was about. US manufacturing activity expanded in February at the fastest pace in three years, according to Institute for Supply Management data. Copper prices, a key indicator of industrial demand, are near a decade high. The S&P 500 Industrial Index is trading almost 20% higher than where it ended 2019. CEOS at companies including 3M Co., Stanley Black & Decker Inc. and Caterpillar Inc. are spending like there’s no pandemic. By almost every measure, the industrial recovery is well underway and accelerating. It s remarkable when you stop and think about it.
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