US stocks rose as the S&P 500 and Nasdaq Composite hit new highs, supported by positive guidance from Delta Airlines and a record close for Nvidia shares.
Delta shares rose 12% after the company forecast third-quarter and full-year profits that beat Wall Street expectations. The airline sector also surged, with United Airlines up 14.3% and American Airlines up 12.7%.
Nvidia saw its shares rise 0.7% and hit a valuation above $4 trillion for the first time, making it a top contributor to the S&P 500 index.
The Dow Jones industrial average rose 0.43% to 192.34 points, the S&P 500 gained 0.27% to 17.20 points, while the tech-focused Nasdaq gained 0.09% to 19.33 points.
Nine of the 11 major sectors in the S&P 500 rose. However, the communications sector fell nearly 0.5% while the technology sector fell 0.1%.
In other developments, Federal Reserve (Fed) meeting minutes also showed that the majority of policymakers forecast interest rate cuts this year. However, the St. Louis Fed President said the impact of tariffs would only be felt by 2026.
Meanwhile, initial jobless claims also fell to 227,000, the lowest in seven weeks, although holiday weeks often record volatile data.
Trading volume on US exchanges recorded $18.16 billion compared to an average of $18.31 billion over two full trading days.
