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Delta Air Lines reduced its 2026 profit forecast due to elevated fuel costs, though CEO Ed Bastian indicated strong consumer travel demand persists despite higher ticket prices.
Third-quarter earnings season begins with major bank reports, with S&P 500 profit expectations at nearly 30% growth year-over-year, though analysts caution that beats alone may not sustain the market rally.
Delta Air Lines postponed its planned nonstop service between Atlanta and Riyadh until March following deadly attacks on Saudi Arabia’s capital airport that killed at least 12 people and forced widespread flight cancellations.
The S&P 500’s bull market turned four years old on Monday, having climbed nearly 120% since October 12, 2022, driven largely by artificial intelligence enthusiasm, though analysts debate the sustainability of further gains.
Bank of America shares fell nearly 5% after the bank reported a 17% profit decline stemming from a $1.2 billion regulatory penalty and trading revenue that missed expectations by roughly $570 million.
Morgan Stanley’s third-quarter profit climbed 6.5% to $4.91 billion as equities trading revenue surged 41% to $5.8 billion, exceeding estimates by $909 million, though fixed income trading declined.
