Airline stocks rise with Europe, economic data

Airline stocks rose Monday with the wider market on an array of positive economic data and a Greek bank merger. The NYSE Arca Airline Index added 2% to 32.58 points with all 15 components in the black. Shares of American parent AMR Corp. jumped 3.4%, US Airways rose nearly 4% and Delta Air Lines climbed about 3%. The benchmark Dow Jones Industrial Average rose 1.5% after European stocks rallied after EFG Eurobank Ergasias SA and Alpha Bank SA in Greece announced a friendly merger agreement, raising hopes the deal would strengthen the country against a possible default. Meanwhile, data showed consumers in the U.S. earned and spent more money in July.