The major stock indices are on track for a record close.
The S&P index high close was reached on July 31 at 6408.05. It is currently trading up 49.47 points or 0.78% at 6422.93.
For the NASDAQ index its high close was on August 11 at 21523.43. It is currently trading up 167 points or 0.79% at 21553.10. That has now surpassed the intraday high price from yesterday at 21549.73.
Airlines are also doing quite well today after Delta reported better than expected earnings.
- EPS came in at $2.10 per share adjusted to beat forecasts for $2.06 per share.
- Revenue increased less than 1% to $15.5 billion, narrowly topping views for $15.46 billion.
It’s shares are trading up 9.09% at $58.35, and tests the high price from July at $58.33. Looking at the chart below, the high price today is testing the high of a swing area between $56.52 and $58.33. Move above would add to the bullish bias. Support is now at $56.52 (61.8% retracement).
Other airlines are also sharply higher with American Airlines up 9.72%, United Airlines up 8.87%, and Southwest Airlines up 4.3%.
Apple shares have continued its run higher after yesterday’s dip. Shares are trading at $230 up $2.75 or 1.2%. The high price from last Friday reached $231. The high price today has reached $230.59 so far.
Since it low earlier this month and its better than expected earnings, the price has surged 14.10%. The high price today extended to the highest level since March 10. For the year, Apple shares are still down -8.35%. It closed 2024 at $250.42 just short of its all-time high of $260.10.
This article was written by Greg Michalowski at investinglive.com.