The Nasdaq 100 index rose Tuesday, as shares of United Airlines operator UAL Corp. advanced and the price of oil declined.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, gained 44.35 points, or 2.4 percent, to 1,871.28. The broader Nasdaq composite rose 51.12 points, or 2.3 percent, to 2,294.44.
UAL said it would cut jobs at Denver International Airport. The company's stock also was helped by a decline in oil prices, as fuel represents one of the airline industry's biggest costs. UAL shares added 56 cents, or 13.4 percent, to $4.75.
Shares of Ireland's Ryanair Holdings PLC gained $3.32, or 12.7 percent, to $29.45.
Shares of Leap Wireless International Inc. rose $2.75, or 7.2 percent, to $40.99.
On the losing side, shares of Steel Dynamics Inc. fell $1.46, or 4.4 percent, to $31.70.
Shares of Sun Microsystems Inc. declined 41 cents, or 3.8 percent, to $10.38, after setting a 52-week low of $10.33 earlier in the session.
On the declining side, shares of Focus Media Holding Ltd. slipped 92 cents, or 3.5 percent, to $25.65. They earlier hit a 52-week low of $24.62.
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