Stocks soar as Delta and JP Morgan earnings come in

US stocks It traded higher as profits rolled and commodities rose.

Major futures indices are pointing to a 0.6% gain when the opening bell rings on Wall Street, extending Tuesday’s rally.

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Me: DJI Dow Jones averages 34220.36 -87.72 -0.26%
SP500 Standard & Poor’s 500 4397.45 -15.08 -0.34%
I: COMP Nasdaq Composite Index 13371.571501 -40.38 -0.30%

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Delta shares rose after the carrier said it was back in profit as consumer demand rebounded.

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DA Delta Airlines Limited 38.62 +0.38 + 0.99%

JPMorgan’s quarter was quieter as revenue and profit were down from the same period last year. The largest US lender earned $8.28 billion, or $2.63 per share, in the first quarter, compared with $14.3 billion, or $4.50 per share, a year earlier. Revenue fell to $30.7 billion from $32.2 billion a year earlier.

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JPM JPMORGAN CHASE & CO. 131.47 -1.56 -1.17%

AMC CEO participates in more dealings

In deal news, AMC Entertainment has struck a deal for Acquire Seven former Bow Tie cinema locations with 66 screens, including five in Connecticut, one in upstate New York, and one in Annapolis, Maryland. The new Connecticut theater locations will double AMC’s public attendance in the state.

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American oil Over $100 a barrel as traders watch Russia shrink supplies after Moscow said talks to resolve it Invasion of Ukraine It reached a dead end.

Traders on the floor of the New York Stock Exchange (AP/AP Newsroom)

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USO United States Petroleum Fund LP 75.96 +3.64 + 5.03%
BNO United STS BRENT OIL FD LP UNIT 29.81 +1.60 + 5.67%

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Traders will also consider another report related to inflation.

The PPI is expected to rise 1.1% month over month according to Refinitiv’s forecast, up from 0.8% in February and the biggest increase since January’s 1.2% rise. On an annual basis, prices paid by wholesalers are expected to jump to a record high of 10.6%, up from 10% in February.

After accounting for volatile food and energy costs, core producer prices are expected to rise 0.5% per month in March, up from 0.2% in the previous month. On a yearly basis, look for core PPI up 8.4% in March.

Wounds swelled 8.5% in March, marking 40 new years

On Tuesday, the government reported that the Consumer Price Index, a closely watched measure of retail inflation, rose to a 40-year high in March.

Bitcoin traded around $40,000.


The Associated Press contributed to this report.

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