S&P 500 Down 1%; Delta Air Lines Posts Upbeat Earnings

U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 1% on Wednesday.

The Dow traded down 1.15% to 38,438.09 while the NASDAQ fell 0.89% to 16,162.29. The S&P 500 also fell, dropping, 0.95% to 5,160.20.

Check This Out: How To Earn $500 A Month From Citigroup Stock Ahead Of Q1 Earnings Report


Leading and Lagging Sectors


Energy shares rose by 0.3% on Wednesday.

In trading on Wednesday, real estate shares tumbled by 4.3%.


Top Headline


Delta Air Lines, Inc. DAL reported better-than-expected first-quarter earnings.

Delta reported a first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion and adjusted operating revenue of $12.563 billion (+6% YoY), beating the consensus of $12.57 billion. Adjusted EPS was 45 cents, above the consensus of 36 cents.


Equities Trading UP


Marin Software Incorporated MRIN shares shot up 144% to $0.70 after the company announced upgrades to its integration with Microsoft Advertising.

Shares of Adial Pharmaceuticals, Inc. ADIL got a boost, surging 84% to $2.08 after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.

Jaguar Health, Inc. JAGX shares were also up, gaining 38% to $0.1245 after the company announced the approval of all proposals at its April 2024 Special Meeting of Stockholders and said it is not implementing a reverse split at this time.


Equities Trading DOWN


VIA optronics AG VIAO shares dropped 33% to $0.6054. VIA optronics announced intention to voluntarily delist its ADSs from the New York Stock Exchange. VIA optronics and Antolin unveiled Sunrise, a new horizon of integration in vehicle cockpits.

Shares of Ascent Solar Technologies, Inc. ASTI were down 52% to $0.1330 after the company announced pricing of a $6 million public offering of shares at $0.14 per share.

Velo3D, Inc. VLD was down, falling 40% to $0.2798 after the company announced pricing of a $12 million public offering.

Also Check This Out: Around $1M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Buying




In commodity news, oil traded up 1.1% to $86.14 while gold traded down 0.2% at $2,357.00.

Silver traded up 0.7% to $28.185 on Wednesday, while copper fell 0.1% to $4.2815.


Euro zone


European shares were mixed today. The eurozone’s STOXX 600 rose 0.15%, London’s FTSE 100 rose 0.33% while Spain’s IBEX 35 Index fell 0.38% The German DAX rose 0.11% French CAC 40 fell 0.05% while Italy’s FTSE MIB Index rose 0.27%.

The value of retail sales in Italy rose by 0.1% from the prior month in February.


Asia Pacific Markets


Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 falling 0.48%, Hong Kong’s Hang Seng Index gaining 1.85%, China’s Shanghai Composite falling 0.70% and India’s S&P BSE Sensex gaining 0.47%.

Producer prices in Japan rose by 0.8% year-over-year in March, while value of loans rose 3.2% year-over-year in March. Chinese vehicle sales climbed by 9.9% year-over-year to 2.69 million units in March compared to a 19.9% decline in the previous month.




U.S. mortgage applications rose 0.1% on the week ending April 5, 2024.

U.S. annual inflation rate rose for a second consecutive month to 3.5% in March from 3.2% in February.

U.S. wholesale inventories increased by 0.5% month-over-month in February compared to a 0.2% decline in the previous month.

U.S. crude oil inventories increased by 5.841 million barrels in the week ended April 5, compared to market estimates of a 2.366 million gain.

Now Read This: Tesla To $205? Here Are 10 Top Analyst Forecasts For Wednesday

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsTrading IdeasMid Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!