Global equity markets demonstrated a nuanced performance on Thursday, as investors navigated the nascent earnings season and evolving macroeconomic signals. While U.S. futures showed mixed to flat movement, significant corporate developments and shifting commodity prices provided specific directional cues across different sectors and regions, influencing investor sentiment and trading activity.
- Delta Air Lines (DAL) shares surged 12% pre-market, surpassing Q2 revenue and earnings expectations and elevating its 2025 forecast.
- WK Kellogg (KLG) stock soared over 50% following reports of a potential $3 billion acquisition by Italy’s Ferrero.
- South Korea’s Kospi index advanced 1.6%, buoyed by the Bank of Korea maintaining its benchmark interest rate and a strong rally in semiconductor stocks.
- Japan’s Nikkei 225 declined 0.4%, primarily due to yen appreciation impacting exporters and stalled U.S. tariff negotiations.
- Crude oil prices edged lower, with West Texas Intermediate (WTI) falling to $67.90 per barrel and Brent crude to $69.81 per barrel.
North American Market Dynamics
In the United States, pre-market trading reflected investor assimilation of early earnings reports and broader global economic indicators. S&P 500 and Dow Jones futures largely remained flat, while Nasdaq futures posted a modest gain of less than 0.1%, following a record rally observed on Wednesday.
Key Corporate Movers
Among notable corporate movements, Delta Air Lines (DAL) emerged as a significant pre-market gainer, with its shares surging 12%. The airline exceeded second-quarter revenue and earnings expectations, concurrently elevating its 2025 forecast. This improved outlook, signaling a robust summer travel season, contrasts sharply with earlier projections this spring. At that time, Delta and other airlines had retracted guidance due to macroeconomic uncertainties stemming from trade policies under President Donald Trump, specifically tariffs that impacted consumer confidence and non-essential spending. The positive report also catalyzed gains for peers, with United Airlines (UAL) rising 8% and American Airlines (AAL) up 7.4%, indicating a partial recovery in demand across the airline sector.
Another significant corporate event involved WK Kellogg, whose shares soared over 50% in pre-market trading. This surge followed a Wall Street Journal report indicating that Italy’s Ferrero is nearing an agreement to acquire the company in a deal reportedly valued at $3 billion, signaling potential consolidation in the consumer goods sector.
Asian Equity Performance
Asian equity markets concluded the day with mixed results. South Korea’s Kospi advanced 1.6% to 3,183.23, driven by the Bank of Korea’s decision to maintain its benchmark interest rate and a robust rally in semiconductor stocks, influenced by Nvidia’s performance on Wall Street. Conversely, Japan’s Nikkei 225 declined 0.4% to 39,646.36, primarily due to yen appreciation impacting exporters and stalled U.S. tariff negotiations. Elsewhere in Asia, Hong Kong’s Hang Seng index recorded a 0.7% increase, reaching 24,057.09, while the Shanghai Composite gained 0.5% to 3,509.68. Australia’s S&P/ASX 200 also saw positive momentum, closing up 0.6% at 8,589.20.
European Market Overview
European markets generally traded higher by midday, reflecting cautious optimism across the continent. The UK’s FTSE 100 climbed 1.2%, Germany’s DAX edged up 0.1%, and France’s CAC 40 saw a 0.5% gain.
Commodities and Currencies
In the commodities sector, crude oil prices edged lower. West Texas Intermediate (WTI) decreased by $0.48 to $67.90 per barrel, and Brent crude fell by $0.38 to $69.81 per barrel. Currency markets observed the U.S. dollar strengthening against the Japanese yen, reaching 146.35 from 146.26. Simultaneously, the euro depreciated against the dollar, moving to 1.1712 from 1.1723.
Outlook
Looking ahead, global markets remain keenly focused on the progression of the U.S. earnings season and potential developments in President Trump’s trade policy. These key factors are anticipated to continue shaping market direction and investor sentiment in the immediate term, with market participants closely monitoring corporate guidance and geopolitical shifts for further cues.
Emily Carter has over eight years of experience covering global business trends. She specializes in technology startups, market innovations, and corporate strategy, turning complex developments into clear, actionable stories for our readers.