Thursday brought fresh new highs for most of the stock market, as the Dow Jones Industrial Average (DJINDICES:^DJI) and S&P 500 (SNPINDEX:^GSPC) hit records and the Nasdaq Composite (NASDAQINDEX:^IXIC) fell just shy of new all-time highs. Investors were excited about signs of a strong economic recovery as more of the U.S. emerges from the worst of the COVID-19 pandemic.
Earnings season is getting into high gear, and investors heard the latest from two key companies in the industrial sector. Delta Air Lines (NYSE:DAL) started things off Thursday morning with the latest on how the airline industry is faring amid tough conditions, while after the closing bell, aluminum specialist Alcoa (NYSE:AA) weighed in with its latest results.
Losing a little altitude
Shares of Delta Air Lines finished lower by about 3% Thursday. The airline giant’s first-quarter financial numbers were predictably ugly, and shareholders didn’t seem to take as much solace from the prospects of improving conditions as many had hoped.