The airline sector is trading lower in the pre-market session after American Airlines (AAL) issued disappointing guidance for the third quarter and the full year 2026. While the company's second-quarter earnings and revenue surpassed expectations, the bleak forecast, attributed to soaring fuel costs, has sent its stock down more than 5% in pre-market trading. American Airlines is a major component of the U.S. Global Jets ETF (JETS), and its significant drop is the primary driver of the ETF's decline.