The U.S. stock market showed conflicting results on Thursday because airline companies reported positive earnings but trade tensions intensified due to President Trump’s tariff policies. The S&P 500 index declined by 0.15% and the Nasdaq index dropped 0.44% but the Dow Jones Industrial Average managed a 0.09% increase.
Delta Air Lines stock price surged 13% after the company released better-than-expected earnings which caused United and American Airlines to rise by more than 9% and pushed the Dow Jones Transport Average up 2.3%. The airline industry delivered a positive performance during this otherwise uncertain trading day.
The market remains uncertain because Trump announced a 50% copper tariff that will start on August 1 and create potential trade disruptions worldwide. The White House released tariff notices to multiple small U.S. trade partners which created additional market uncertainty.
The market experienced negative effects from technology and communication services sectors. Tesla stock price increased 2.7% because the company prepares for its upcoming November shareholder meeting.
The market participants expect numerous corporate earnings reports to be released during the upcoming week. Steward Partners’ Eric Beiley stated that investors require earnings verification to support their valuation assessments. The current trade policy uncertainty has led many investors to delay their investment decisions until they receive clarity.
Market momentum has decreased while traders monitor both Washington and Wall Street for guidance despite strong sector performance.
