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    Crude Oil Down Over 2%; Delta Air Lines Posts Upbeat Earnings

    Benzinga·07/10/2025 17:04:43
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    U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining more than 200 points on Thursday.

    The Dow traded up 0.52% to 44,690.50 while the NASDAQ declined 0.03% to 20,605.11. The S&P 500 also rose, gaining, 0.23% to 6,278.25.

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    Leading and Lagging Sectors

    Health care shares jumped by 1.2% on Thursday.

    In trading on Thursday, communication services stocks dipped by 1%.

    Top Headline

    Delta Air Lines, Inc. (NYSE:DAL) posted stronger-than-expected second-quarter results and reinstated its full-year 2025 guidance.

    Operating revenue for the quarter was $16.65 billion, flat from a year ago but above the consensus estimate of $16.18 billion. Adjusted operating revenue rose 1% year over year to $15.51 billion.

    Adjusted earnings per share were $2.10, down 11% from the year-ago period but topping expectations of $2.05. The airline's adjusted average fuel price fell to $2.26 per gallon, compared with $2.64 last year.

    Equities Trading UP
               

    • Above Food Ingredients Inc. (NASDAQ:ABVE) shares shot up 425% to $1.87 on continued strength following its merger agreement with Palm Global on Monday.
    • Shares of DallasNews Corporation (NASDAQ:DALN) got a boost, surging 217% to $13.51 after the company announced Hearst will acquire it for $14 per share.
    • BIT Mining Limited (NASDAQ:BTCM) shares were also up, gaining 111% to $5.20 after the company announced it plans an investment up to $300 million to expand into the Solana ecosystem.

    Equities Trading DOWN

    • Mereo BioPharma Group plc (NASDAQ:MREO) shares dropped 33% to $1.9600. Ultragenyx Pharmaceutical and Mereo BioPharma on Wednesday announced that the randomized, placebo-controlled Phase 3 portion of the Orbit study evaluating UX143 (setrusumab) in pediatric and young adult patients with osteogenesis imperfecta (OI) is progressing toward a final analysis around the end of the year, consistent with the original plan.
    • Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) were down 27% to $30.45. Ultragenyx Pharmaceutical and Mereo BioPharma on Wednesday announced that the randomized, placebo-controlled Phase 3 portion of the Orbit study evaluating UX143 (setrusumab) in pediatric and young adult patients with osteogenesis imperfecta (OI) is progressing toward a final analysis around the end of the year, consistent with the original plan.
    • CURRENC Group Inc. (NASDAQ:CURR) was down, falling 30% to $1.4250 as the company announced the pricing of $60 million underwritten public offering at a price of $5/share.

    Commodities

    In commodity news, oil traded down 2.3% to $66.79 while gold traded up 0.2% at $3,326.70.

    Silver traded up 1.2% to $37.075 on Thursday, while copper rose 2.3% to $5.6115.

    Euro zone

    European shares were mixed today. The eurozone's STOXX 600 rose 0.49%, while Spain's IBEX 35 Index fell 0.70%. London's FTSE 100 gained 1.21%, Germany's DAX 40 slipped 0.36% and France's CAC 40 gained 0.22% during the session.

    Asia Pacific Markets

    Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.44%, Hong Kong's Hang Seng gaining 0.57%, China's Shanghai Composite gaining 0.48% and India's BSE Sensex falling 0.41%.

    Economics

    • U.S. initial jobless claims declined by 5,000 from the previous week to 227,000 in the first week of July, compared to market estimates of 235,000.
    • U.S. natural gas stocks rose 53 billion cubic feet for the week ended July 4.

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    Photo via Shutterstock