Airlines Lift Stock Markets Despite Trade Tension
The stock markets showed resilience despite President Trump's new tariffs, with airline stocks soaring thanks to Delta's positive forecast. The S&P 500 and Dow rose modestly, while the Nasdaq faced pressure from tech stock declines. Federal Reserve meeting minutes suggested potential rate cuts as markets anticipate upcoming earnings.
The stock markets demonstrated robustness on Thursday, undeterred by President Donald Trump's announcement of new tariffs. Airline stocks were a particular highlight, driven by Delta Air Lines' impressive earnings forecast.
Delta soared 12.5% on the news, with United Airlines and American Airlines also posting significant gains. Overall, the Dow Transportation index, a key economic indicator, experienced a notable 3% increase, signaling consumer strength that surpassed expectations.
Despite the buoyant airline sector, the tech index weighed on the Nasdaq, which remained nearly flat. Meanwhile, the Federal Reserve's meeting minutes indicated a likelihood of rate cuts later in the year to address the economic impact of tariffs.
(With inputs from agencies.)
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