Crude oil (WTI) is slumping 1.47% to $36,22 per barrel and Brent crude is declining 1.91% to $36.52 per barrel, according to the CNBC.com index.
Oil futures were tumbling on the stronger dollar and worries about China's economic status.
Chinese stock markets dropped 7% on Monday causing the country's central bank to take action by injecting $20 billion in short-term funds into the its financial system. This was to help calm investors nerves following Monday's sharp stock selloff, the Wall Street Journal reports.
Separately, the company last week announced that it reached a deal with Transport Workers Union Local 555, a union that represents over 12,000 employees.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SOUTHWEST AIRLINES as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.