Stocks trade modestly below session highs. Crude prices spike higher, now up 11.5% to $70.63 per barrel.
Airlines (-2.7%) are notable laggards, with selling interest driven by
the spike in crude prices weighing on the industry and a poor November
outlook from Continental Airlines (CAL 18.19, -2.26). Continental said
it expects domestic revenue per available seat mile to rise by 4% to 6%
in November, compared to recent guidance of low-to-mid teens, Reuters
reports.