US markets today: Wall Street pauses near records as gold ticks up; investors cheer airline earnings

Wall Street took a breather on Thursday, with US stocks making only modest moves near record levels while gold edged higher and Treasury yields remained largely unchanged. The S&P 500 inched up 0.1%, coming off its latest all-time high and marking eight gains in the past nine sessions. The Dow Jones Industrial Average rose 21 points, or less than 0.1%, while the Nasdaq composite was virtually flat as of 9:35 a.m. Eastern time, AP reported.Gold climbed 0.1% from its recent record following a strong rally this year, while Treasury yields stayed steady after major moves driven largely by expectations that the Federal Reserve will cut interest rates to support economic growth.Delta Air Lines surged 6.4% after reporting stronger summer profits than analysts expected and projecting full-year earnings above forecasts. Delta President Glen Hauenstein said the company had seen broad-based acceleration in sales over the past six weeks, including domestic business travel, boosting other airline stocks as well. American Airlines gained 3.3%, United Airlines rose 5.3%, and Southwest Airlines added 3.3%.Corporate reports are increasingly shaping market moves amid the US government shutdown, which has delayed key economic data, including weekly unemployment claims. Companies now face pressure to deliver strong profit growth to justify substantial stock price gains since April, with the S&P 500 up roughly 35% and some AI-related stocks drawing particular scrutiny.PepsiCo added 1.3% after posting better-than-expected quarterly profit, citing improved momentum in its North American drinks business. Tesla, however, fell 1.1% after the National Highway Traffic Safety Administration opened a preliminary evaluation of its full self-driving system over safety concerns.Akero Therapeutics jumped 16.8% following news that Novo Nordisk would acquire the San Francisco-based biotech for up to $5.2 billion if its lead product candidate receives federal approval. MP Materials climbed 5.2% after China announced export curbs on rare earths, vital for electronics and aerospace components.Global markets were mixed. Shanghai’s index rose 1.3% after trading resumed following a holiday, while Japan’s Nikkei 225 gained 1.8%, led by SoftBank Group, which surged 11.4% after unveiling a $5.4 billion deal to acquire the robotics unit of Swiss engineering firm ABB. In the US bond market, the 10-year Treasury yield edged up to 4.14% from 4.13% late Wednesday.