Market Indexes Show Strength Amid Mixed Signals
The major U.S. stock indexes showed resilience on Thursday, July 10, 2025, with the S&P 500 adding 0.25% to reach 6,278.87, edging closer to its all-time high. The Dow Jones Industrial Average climbed 0.54% to 44,698.12, now just 0.7% shy of its December record. Meanwhile, the tech-heavy Nasdaq Composite remained relatively flat, dipping 0.04% to 20,603.21 after Wednesday’s strong performance.
Wednesday’s session saw all three benchmark indexes close in the green, with the Dow rising 0.5% (217.54 points) to 44,458.30, the Nasdaq gaining 1% (192.87 points) to 20,611.34, and the S&P 500 adding 0.6% (37.74 points) to close at 6,263.26.
Market sentiment remains cautiously optimistic as investors digest the latest Federal Reserve minutes and monitor ongoing trade policy developments. The CBOE Volatility Index (VIX), often referred to as the “fear gauge,” decreased 5.2% to 15.94 on Wednesday, indicating reduced market anxiety.
Airline Stocks Take Flight on Delta’s Strong Earnings
The standout performers in today’s session were airline stocks, which soared following Delta Air Lines’ (DAL) impressive second-quarter results. Delta reported adjusted earnings per share of $2.10 on revenue of $16.65 billion, beating analyst expectations of $2.06 per share.
Most significantly, Delta restored its full-year guidance, projecting earnings between $5.25 and $6.25 per share, with the midpoint well above analysts’ consensus of $5.38. This move reflects the company’s “confidence in the business,” according to CEO Ed Bastian.
The positive outlook triggered a sector-wide rally, with Delta shares surging more than 12%. United Airlines (UAL) led S&P 500 gainers with a 13.4% jump, while American Airlines (AAL) climbed 12.5% and Southwest Airlines (LUV) added 8%. The Dow Transportation index, widely considered an economic barometer, jumped 3%.
TD Cowen analyst Tom Fitzgerald noted that Delta’s guidance sets a “high bar” for its peers, while Benchmark Equity Research analyst Josh Sullivan suggested other carriers might follow Delta’s lead in reinstating full-year guidance.
Tech Sector Mixed as Nvidia Maintains Historic Valuation
The technology sector showed mixed performance today after Wednesday’s strong rally. Nvidia (NVDA) made history on Wednesday by becoming the first company to reach a $4 trillion market capitalization, though it closed just shy of that milestone at $3.97 trillion.
Nvidia’s remarkable achievement underscores the company’s dominance in artificial intelligence infrastructure. Major technology companies including Amazon (AMZN), Alphabet (GOOG), Meta (META), Microsoft (MSFT), and Tesla (TSLA) continue to invest heavily in Nvidia’s hardware products to power their AI initiatives.
Other tech giants showed mixed performance on Thursday. Broadcom (AVGO) fell 1.5%, Meta Platforms (META) dropped 1%, while Microsoft and Amazon edged slightly lower. Tesla advanced 2.5%, while Apple (AAPL) and Alphabet posted modest gains.
Fed Minutes and Trade Policy Shape Market Outlook
Wednesday’s release of the minutes from the Federal Reserve’s June meeting revealed that only a few policymakers supported an immediate rate cut in July, with the majority preferring to hold steady and reassess later in the year. Most officials flagged inflationary risks from President Trump’s tariff policies and noted that the current interest rate level of 4.25-4.50% might already be close to neutral.
This cautious tone has shifted market expectations, with rate-cut odds for July collapsing while expectations have moved to September. The CME Group’s FedWatch tool now shows a 64% probability of a rate cut in September.
Trade policy uncertainty continues to loom over markets. President Trump announced on Wednesday a new 50% tariff on copper to start on August 1 and threatened a 50% tariff on exports to the U.S. from Brazil. He also extended the deadline for hefty “reciprocal” tariffs to August 1, instead of this week, which has alleviated immediate concerns but extended uncertainty about future trade policy.
Looking Ahead: Key Events and Market Indicators
Investors are now turning their attention to the upcoming earnings season, which kicks off next week. Market participants will be closely watching for signs of how companies are navigating the current economic landscape, particularly in light of potential tariff impacts and shifting monetary policy expectations.
In other market indicators, Bitcoin reached a new record high at around $112,900, after hitting its first new high since late May on Wednesday. The U.S. dollar index rose 0.2% to 97.73, continuing modest gains after hitting its lowest level since early 2022 last week. The yield on the 10-year Treasury note was at 4.37%, up from 4.34% at yesterday’s close, while gold futures remained steady at $3,320 an ounce. West Texas Intermediate crude oil futures declined 2.4% to $66.75 per barrel.
As market update continues, investors will be monitoring key inflation data due next week, which could provide further clarity on the Federal Reserve’s path forward and shape stock market today sentiment in the coming sessions.
I’ve created a comprehensive article about today’s stock market performance, focusing on the major indexes, standout sectors, and key market drivers. The article highlights the impressive rally in airline stocks following Delta’s strong earnings report, Nvidia’s historic $4 trillion market cap milestone, and how Fed policy and trade uncertainties are shaping market sentiment. I’ve included the latest data on major indexes, notable stock movements, and important economic indicators to give readers a complete picture of the current market landscape.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.