Stocks surged in the final hour of trading as a sharp drop in oil prices and an analyst note prompted a late rally in financials. The Nasdaq eked out a gain but investors still punished select techs, including Apple and Texas instruments after the firms dispatched disappointing results.

The airline industry is feeling the pain of record-high fuel prices, and CNBC talked to a current and a former airline executive for additional insight.

Route cuts at American Airlines will start with discontinuing some long-haul service, including Chicago flights to Honolulu and Buenos Aires, the carrier said on Tuesday.

Stocks plunged after the Federal Reserve cut its 2008 outlook and oil finished above $133 a barrel.  The Dow shed more than 227 points, or 1.8 percent, bringing its two-day point decline to about 450.

Travelers to the  Olympic Games this August in China better book airline tickets soon, but a dramatic buildup of Western hotels—many still just coming on-line —should make finding a room less of a challenge.

The Dow and S&P 500 snapped a two-day losing streak Thursday, led by technology stocks after an upgrade on the chip sector.