Business

Rising airline stocks help lift Wall Street

Airline and automaker stocks took off on Tuesday and helped US indexes push a bit further into record territory. Trading was again quiet overall, with only modest moves for bond yields, commodities, and other markets.

The Standard & Poor’s 500 index rose 0.2 percent, to 2,534.58, for its sixth straight day of gains. The Dow Jones industrial average rose 0.4 percent, to 22,641.67, and the Nasdaq Composite rose 0.2 percent, to 6,531.71. The Russell 2000 index of small-cap stocks added 0.2 percent, to 1,511.97. All four indexes are at records.

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Airlines led the way after Delta Air Lines updated its forecast for third-quarter results. The carrier expects roughly 2 percent growth in a key revenue measurement, which would be at the high end of the forecast range it gave a month ago, after accounting for the hit that it took from Hurricane Irma. Delta jumped 6.6 percent, its best day since January 2015. United Continental, American Airlines Group, and Southwest Airlines each rose more than 4 percent.

Apart from airlines and a handful of other big movers, though, markets were generally quiet.

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General Motors and Ford Motor were some of the market’s top performers after each reported strong US sales growth for last month. It’s a turnaround for automakers, which had seen sales drop through the year’s first eight months. GM climbed 3.1 percent, and Ford gained 2.1 percent.

Home builder Lennar rose 4.8 percent after it reported stronger quarterly sales and earnings than analysts expected.

Shares of Equifax and Wells Fargo both rose, though the companies received tongue lashings on Capitol Hill Equifax climbed 2.4 percent after House members grilled its former CEO over the hack that exposed the personal information of 145 million Americans. Wells Fargo added 0.2 percent after a Senate committee questioned its CEO on the bank’s sales-practices scandal, in which employees signed customers up for accounts without their knowledge.

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