Allegiant Air, Lower Oil Price Lift Airlines Industry Group

On a day of broad losses in which defensive shares fared best, volatile airline stocks pulled a rabbit out of the hat and posted the day's best gain among industries. Part of the group's resilience owed to oil prices, which slipped 3% Wednesday. Prices fell following a weekly inventory report that showed the largest surge in stockpiles in three years. The report also showed a modest rise in gasoline demand, the sixth advance in seven weeks,