Stocks are drifting higher as Wall Street’s lull continues following a strong start to the year.
The S&P 500 was 0.3% higher in early trading. It’s been generally edging lower since a five-week rally carried it to its highest level in more than a year in mid-June.
The Dow Jones Industrial Average was up 66 points, or 0.2%, at 33,781, as of 9:50 a.m. Eastern time, and the Nasdaq composite was 0.6% higher.
Airlines were helping to lead the way after Delta Air Lines said it still sees pent-up demand in the pipeline as passengers make up for lost opportunities to travel during the pandemic. It highlighted high-income customers in particular, who account for three-quarters of spending on air travel and still look to be in good financial shape.
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