United Airlines shares rose 4% as the U.S. carrier projected improved demand since the start of July, an upbeat tone after the industry came under pressure from the fallout of President Donald Trump's budget cuts and trade tensions.

United Airlines said “acceleration” in demand amid declining geopolitical and economic uncertainty should help it avoid the previous quarter’s “recessionary” forecast for full-year earnings. The more optimistic outlook came as the carrier reported second-quarter results that were below Wall Street forecasts,