Stocks close higher, nudging the S&P 500 and Nasdaq to more highs
[July 11, 2025] By
ALEX VEIGA
Wall Street added to its recent milestones Thursday as the market closed
at an all-time high after Delta Air Lines kicked off earnings season
with a solid outlook for the rest of 2025, spurring an airline stock
rally.
The S&P 500 rose 0.3%, inching past the record it set last week after a
better-than-expected June jobs report.
The Nasdaq composite edged up 0.1%, enough of a gain to notch a new high
for the second day in a row. The Dow Jones Industrial Average finished
0.4% higher.
Delta surged 12%, bringing other airlines along with it, after beating
Wall Street’s revenue and profit targets. The Atlanta airline also gave
a more optimistic view for the remaining summer travel season than it
had just a couple months ago.
The airline and other major U.S. carriers had pulled or slashed their
forecasts in the spring, citing macroeconomic uncertainty amid President
Donald Trump’s tariff rollouts, which have consumers feeling uneasy
about spending on travel.
“Companies are becoming more confident in the range of outcomes for
tariffs,” said Michael Antonelli, market strategist at Baird. “Companies
are starting to understand what the playing field looks like a little
bit better, even though we continue to have these kind of tariff
announcements that get bounced back and forth.”

Delta’s encouraging report boosted the entire airline sector. United
jumped 14.3%, American climbed 12.7%, JetBlue gained 7.8% and Southwest
finished 8.1% higher.
The market has been steadying following a downbeat start to the week as
the Trump administration renewed its push to use threats of higher
tariffs on goods imported into the U.S. in hopes of securing new trade
agreements with countries around the globe.
Wednesday had been initially set as a deadline by Trump for countries to
make deals with the U.S. or face heavy increases in tariffs. But with
just two trade deals announced since April, one with the United Kingdom
and one with Vietnam, the window for negotiations has now been extended
to Aug. 1. That's given Wall Street a breather just in time for the
start of corporate earnings season.
Wall Street analysts predict that companies in the S&P 500 will deliver
5% growth in second-quarter earnings, according to FactSet. That would
mark the lowest rate since the fourth quarter of 2023.
Conagra Brands fell 4.4% Thursday after the maker of Slim Jim, Swiss
Miss and other food products reported earnings and revenue that fell
short of Wall Street’s estimates. The company also lowered its earnings
outlook, saying it expects continued cost increases due to tariffs.
Helen of Troy, the company behind Hydro Flask water bottles and OXO
kitchen tools, sank 22.7% after its latest quarterly results came in
below Wall Street’s forecasts. The company said it would not be
providing a fiscal year 2026 outlook, citing uncertainty over tariff
policy and the economy.
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Specialist Meric Greenbaum works at his post on the floor of the New
York Stock Exchange, Tuesday, July 8, 2025. (AP Photo/Richard Drew)
 Shares in AZZ rose 5.5% after the
electrical equipment maker’s latest quarterly earnings topped
analysts’ forecasts.
Earnings season shifts into high gear next week with JPMorgan Chase,
Wells Fargo and Citigroup among the big banks due to report their
results on Tuesday.
Beyond airlines, most of the sectors in the S&P 500 notched gains
Thursday, led by banks and consumer-focused companies. JPMorgan and
McDonald's each rose 1.8%.
Technology and communication services stocks were the only laggards.
Autodesk fell 6.9% and Netflix ended 2.9% lower.
Shares of WK Kellogg vaulted 30.6% after Italian candy maker Ferrero
agreed to acquire the cereal company in a deal valued at roughly
$3.1 billion. The transaction includes the manufacturing, marketing
and distribution of WK Kellogg Co.’s portfolio of breakfast cereals
across the United States, Canada and the Caribbean.
Shares in mining company Freeport-McMoRan rose 3.6% after Trump said
a 50% tariff on copper imports would take effect on Aug. 1. The
price of copper rose 1.9% to $5.59 per pound.
All told, the S&P 500 rose 17.20 points to 6,280.46. The Dow added
192.34 points to 44,650.64. The Nasdaq gained 19.33 points to
20,630.66.
In economic news, the Labor Department reported Thursday that
applications for unemployment benefits, a proxy for layoffs, fell
last week, remaining in the historically healthy range they’ve been
in the past couple of years.

Bond yields mostly rose, although the yield on the 10-year Treasury
held steady at 4.34%.
European stock indexes closed mixed Thursday following an uneven
finish in Asian markets.
Tokyo’s Nikkei 225 fell 0.4%, weighed down by selling of exporters'
shares amid the yen’s appreciation, which cuts profits from exports,
and dampened sentiment because of the lack of progress in the Japan-U.S.
trade talks.
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