Stock of most major airlines up slightly in midday trading

Sector Snap: Airlines shares mostly up

NEW YORK — The stock of most major U.S. airlines rose slightly in midday trading Tuesday, bettering the slight decline in the broader market.

The Amex Airlines Index gained 0.4 percent, with 10 of its 13 component stocks higher.

The Dow Jones industrial average was down 12.85 points, to 9,872.95, while other indexes were mixed.

Health care products maker Johnson & Johnson issued a mixed earnings report — sales fell but profit inched higher — which dampened hopes for a quick rebound in sales at major companies. Banking stocks fell after an influential analyst downgraded Goldman Sachs.

Oil prices neared new highs for the year, helped by the weakening U.S. dollar. That gave investors a reason to shy away from airline stocks because it could mean higher prices for jet fuel.

Benchmark crude for November delivery gained 54 cents to $73.81 a barrel around midday.

In midday trading, shares of Delta Air Lines Inc. rose 4 cents to $8.94; American Airlines parent AMR Corp. gained 14 cents to $7.80; and United parent UAL increased 15 cents to $7.31.

Continental Airlines Inc. rose 30 cents to $16.60; Southwest Airlines Co. gained 8 cents to $9.62; JetBlue Airways Corp. picked up 9 cents to $5.75; while US Airways Group Inc. dipped a penny to $4.50.