Stocks Rebound to New Highs as Investors Await Key Earnings Reports
The S&P 500 and Nasdaq both closed at record highs today, recovering from a dip yesterday, as investors anticipate earnings reports from Delta Air Lines and PepsiCo.
Advanced Micro Devices (AMD) saw a significant surge, climbing 43% over the past three days, marking its best weekly performance since 2016. Within the “Magnificent Seven” tech stocks, Nvidia also reached a new closing high, while Amazon experienced its best trading day in a month. Conversely, Fair Isaac Corporation was the S&P 500’s biggest loser, suffering its worst day since late May. The Federal Reserve released minutes today revealing a division among officials regarding the number of interest rate cuts expected by year-end, with debate centering on two or three reductions, including a potential quarter-point cut in September; this uncertainty can influence market volatility.
Delta Air Lines is scheduled to report earnings Thursday morning, having previously reinstated its 2025 profit outlook and projected a strong summer travel season. Despite this, Delta’s stock has fallen over 5% this year, potentially ending two consecutive years of double-digit gains, while United Airlines remains the only major carrier trading positively year-to-date, up 1%. CNBC will host an exclusive interview with Delta CEO Ed Bastian on “Squawk Box” tomorrow at 7 a.m. ET. For more on airline industry trends, see the International Air Transport Association website.
PepsiCo will also release its quarterly results before the opening bell tomorrow, following a previous projection of a rebound in weak North American demand. Shares of PepsiCo have declined 8.7% this year. CEO Ramon Laguarta will appear on CNBC tomorrow at 10 a.m. ET. Additionally, Levi Strauss is set to post its quarterly results after the market closes, currently on track for its seventh consecutive month of gains – a record-breaking streak. The company’s stock has risen over 42% in 2025, potentially achieving its best yearly performance ever. Reports from Macao indicate a strong rebound in global travel, benefiting casino operators like Las Vegas Sands, Wynn Resorts, and MGM Resorts; Wynn Resorts is up more than 40% this year. You can find more information about market performance on a New York Stock Exchange resource.
Officials indicated they will continue to monitor economic data to inform future monetary policy decisions.
