Delta Air Lines (DAL) saw a notable rise in its stock price on December 5, 2024, closing at $65.77, up 2.35% from the previous day's close of $64.26. The stock opened at $66.64 and reached a high of $67.50 during the trading session, driven by positive developments in the airline sector and Delta's own financial achievements. The airline sector received a boost from American Airlines and Southwest Airlines, which raised their fourth-quarter guidance due to strong holiday travel demand and improved pricing, as reported by the U.S. Transportation Security Administration's record passenger screenings. This sector-wide optimism spilled over to Delta, as investors anticipated similar benefits.
Additionally, Delta's recent upgrade to investment-grade status by S&P Global Ratings further bolstered investor confidence. This upgrade, announced on December 5th, marked Delta's achievement of investment-grade ratings across all major credit agencies, highlighting its strong financial outlook and strategic focus on debt reduction. The combination of sector-wide positive sentiment and Delta's financial milestone contributed to the stock's upward movement.