A late rally didn't jolt markets enough. The Dow and the S&P 500 declined 1.4% and 2.2%, respectively, for October, marking the first three-month losing streak for both indexes since March 2020. The tech-heavy Nasdaq, meanwhile, fell 2.8% for October, also notching its third consecutive negative month. But maybe there's some hope for investors. November has historically been a strong month for markets.
The drop comes as the company forecasts a fourth-quarter loss — and as the airline prepares this week to, saying the proposed $3.8 billion all-cash purchase, which would create the fifth-largest airline in the country, will "increase fares and reduce choice on routes across the country." JetBlue, for its part, says it needs to grow to compete with other giant carriers.
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