Market Milestones: S&P 500 Reaches 5,000
Key The S&P 500 achieved a historic milestone by briefly surpassing the 5,000 mark during the closing minutes of Thursday's trading session. However, it ultimately closed at a record 4,997.91. The Dow Jones Industrial Average also set a new record, concluding the day at 38,726.33. Despite these achievements, the overall gains for the major indexes were modest, with a 0.06% increase for the S&P, 0.13% for the Dow, and 0.24% for the Nasdaq Composite. As the week progresses, each index maintains positive ground heading into the final trading session. Stay updated with live market insights.
Earnings Reports: Pinterest and PepsiCo Performance
Over the past 18 hours, two significant earnings reports surfaced—Pinterest and PepsiCo. Pinterest disclosed its fourth-quarter earnings after Thursday’s market close, revealing weaker-than-expected guidance and disappointing revenue. Although the stock initially plummeted in after-hours trading, it recovered somewhat following the announcement of a new partnership with Google. On the other hand, PepsiCo reported its Q4 results before Friday’s market opening, exceeding earnings estimates but disclosing a slight year-over-year revenue decline. Higher prices supported organic revenue but led to a reduction in volume as consumers became more budget-conscious.
Delta's Exclusive Airport Lounges
Delta Air Lines is elevating the exclusivity of its airport lounges with the introduction of a new “premium” tier. The initiative kicks off with the launch of a spacious 38,000-square-foot lounge at New York’s John F. Kennedy International Airport, set to open its doors in June. This upscale facility boasts a full-service restaurant and dedicated “wellness” areas, addressing the challenge of overcrowding in airport lounges. Delta Air Lines is enhancing the airport lounge experience with the introduction of a “premium” tier, beginning with a 38,000-square-foot facility at New York’s John F. Kennedy International Airport. Scheduled to open in June, this premium lounge features a full-service restaurant and designated “wellness” areas. Overcrowding in airport lounges has become a concern as more travelers accumulate credit card rewards, flight upgrades, or status. Delta aims to address this challenge by offering exclusive amenities. Additional high-end lounges are set to open in Boston and Los Angeles later this year, although the criteria for entry into these top-tier lounges have not been disclosed by Delta.
The move comes as a strategic response to the growing trend of travelers accumulating credit card rewards, securing flight upgrades, or achieving elite status. With persistent high travel demands, airlines are navigating the delicate balance of expanding their membership base while preserving the unique benefits of lounge access. Delta’s decision to roll out these premium lounges aligns with the industry’s effort to enhance the overall airport experience for discerning travelers.
While Delta has not explicitly outlined the criteria for access to these top-tier lounges, the airline aims to provide an elevated and exclusive environment for its passengers. Furthermore, Delta has plans to unveil additional high-end lounges in prominent locations such as Boston and Los Angeles later in the year, reinforcing its commitment to offering enhanced amenities and services for travelers seeking a premium lounge experience.
Hot cocoa prices
Cocoa prices have reached unprecedented levels due to adverse weather conditions affecting crop yields in West Africa. The region, which includes major cocoa producers like Ghana and Ivory Coast, contributes three-quarters of the world’s cocoa production. The El Nino weather phenomenon has resulted in drier temperatures, impacting the harvest. On Thursday, cocoa futures soared to a historic intraday peak of $5,874 per metric ton, marking an increase of over $1,000 or nearly 40% since the beginning of the year.