The S&P 500 and Nasdaq reached new record highs, with the airline and tech sectors leading the increase. The S&P 500 rose 0.27%, while Nasdaq climbed 0.09%, and the Dow increased by 0.43%. Delta Air Lines surpassed profit expectations, boosting its stock by 13%. WK Kellogg surged 30% following a buyout announcement. Nvidia rose 0.72% as it achieved a $4 trillion market valuation. Most sectors in the S&P 500 saw gains, driven by banks and consumer companies. Concerns about trade deals briefly affected market sentiment but were quickly alleviated as stocks continued rising.
Delta Air Lines, which had pulled profit guidance earlier this year on economic instability, beat analysts' profit expectations and released a solid outlook for the rest of the year.
WK Kellogg, the maker of Froot Loops and other popular breakfast cereals, rose 30% after Nutella maker Ferrero announced a deal to buy the company.
Chipmaker Nvidia gained 0.72% a day after the investor favorite reached a $4 trillion market valuation.
The market has demonstrated a remarkable ability to hear what it wants to hear, see what it wants to see, and nothing is going to change its mind.
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