Wall Street Hits Record High Thanks to Delta Air Lines
On Thursday, Wall Street marked a new milestone as the market closed at an all-time high, spurred by Delta Air Lines’ positive outlook for 2025, which launched a rally in airline stocks.
The S&P 500 rose by 0.3%, surpassing its prior record established last week following a better-than-expected jobs report for June. The Nasdaq composite edged up by 0.1%, reaching a new high for the second consecutive day, while the Dow Jones Industrial Average climbed 0.4%.
Delta’s stock soared by 12% after it exceeded Wall Street’s revenue and profit expectations. The Atlanta-based airline provided a more optimistic forecast for the summer travel season compared to earlier in the year.
During spring, Delta and other major U.S. carriers had reduced their forecasts due to macroeconomic uncertainties linked to President Trump’s tariffs, which had left consumers hesitant to spend on travel.
Market strategist Michael Antonelli from Baird noted that companies are feeling more confident about the tariff situation. “Businesses are starting to have a clearer understanding of the environment, even amid ongoing tariff discussions,” he remarked.
Delta’s upbeat report positively impacted the entire airline sector, with notable increases in shares for United (up 14.3%), American (up 12.7%), JetBlue (up 7.8%), and Southwest (up 8.1%). Overall, most sectors in the S&P 500 experienced gains, particularly banks and consumer-focused firms like JPMorgan and McDonald’s, each rising by 1.8%.
As earnings season accelerates next week, major banks such as JPMorgan Chase, Wells Fargo, and Citigroup are scheduled to release their results on Tuesday. Meanwhile, Conagra Brands experienced a 4.4% drop after reporting disappointing earnings, while shares of Helen of Troy fell 22.7% due to lower than expected quarterly results and a lack of fiscal outlook for 2026.
