The s p getting closer to its record of around 2130 on a closing base. The dow up about 67 points but the nasdaq has not managed to gain much traction on the day. Take a look at the s p since the record closed may 21. We are less than a percentage point away from that record close. It is 2134 if you are looking for the intraday record. We will be watching to see if the s p can rate attainment. Ain it. T but get back to the nasdaq as we have seen it bounce around. It is a tight range even though it looks like a big drop and recovery. Its seem to attract does seem to have tracked pretty closely with oil prices. The pattern that you see is quite similar. Oil still hanging onto a gain and holding above 50 a barrel. It has been a level that has been difficult for oil prices to hold. Also we are watching transportation stocks. They are rising at the same time that oil is rising. Thanks in part to the airlines. Pointing out jetblue has raised its domestic fares and other airlines have matched
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Delta Air’s disappointing earnings report isn’t stopping Wall Street from maintaining a bullish outlook, pegged to a second-half recovery. Patrick T. Fallon / AFP via Getty Images
Airline investors aren’t expecting much this earnings season and are looking ahead to the second half of the year.
That narrative appeared to take hold after
Delta Air Lines (ticker: DAL) missed fourth-quarter-earnings estimates and issued guidance below consensus estimates for the first quarter. Delta’s results don’t bode well for the two other full-service carriers:
American Airlines Group (AAL). United is scheduled report earnings next Wednesday, with American scheduled to report on Jan. 28.