By Julia Horowitz, CNN Business
Stocks have reached records on hopes that stimulus spending and vaccination programs will trigger a recovery in corporate earnings later this year. But for companies like United Airlines, the situation is only becoming more dire.
What's happening: The airline told investors after markets closed on Wednesday that its losses are mounting and emphasized plans to keep cutting costs. Shares are down more than 2% in premarket trading.
Such news is in sharp contrast to the view from the broader market. The S&P 500 and tech-heavy Nasdaq Composite both hit all-time highs on Wednesday as tech stocks continued their ascent.