Delta gives stocks a lift, oil tops $101

RIA Advisors CIO Lance Roberts provides insight on the market’s monetary policy and what influences investing decisions on ‘Making Money.’

U.S. stocks posted modest gains in early trading as investors weighed a fresh report on record-high inflation against a basket of mixed first-quarter earnings.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	34261.39	+41.03	+0.12%
SP500	S&P 500	4401.53	+4.08	+0.09%
I:COMP	NASDAQ COMPOSITE INDEX	13445.387394	+73.82	+0.55%

The producer price index rose 1.4% month-over-month, according to the Bureau of Labor statistics. Year-over-year, prices paid by wholesalers jumped a record 11.2%, up from 10% in February.

Factoring out volatile food and energy costs, core producer prices rose 1% monthly in March, up from 0.2% the prior month. Year-over-year, look for core PPI to jump 9.2% in March.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In earnings news, Delta shares rose after the carrier said it has returned to profitability as consumer demand rebounds. The disclosure bodes well for other carriers. Separately, pilots at Southwest warned CEO Robert Jordan of fatigue through their union.

Ticker	Security	Last	Change	Change %
DAL	DELTA AIR LINES INC.	40.84	+2.23	+5.76%
AAL	AMERICAN AIRLINES GROUP INC.	18.84	+1.72	+10.01%
UAL	UNITED AIRLINES HOLDINGS INC.	45.06	+2.33	+5.45%
LUV	SOUTHWEST AIRLINES CO.	45.84	+3.04	+7.10%

JPMorgan’s quarter was more subdued as revenue and profits declined from the same period a year ago. The largest U.S. lender posted a profit of $8.28 billion, or $2.63 per share in the first quarter, compared with $14.3 billion, or $4.50 per share, a year earlier. Revenues fell to $30.7 billion from $32.2 billion a year earlier. The stock slide weighed on the Dow.

Ticker	Security	Last	Change	Change %
JPM	JPMORGAN CHASE & CO.	127.88	-3.62	-2.75%

AMC CEO ENGAGES IN MORE DEALMAKING

In deal news, AMC Entertainment has struck a deal to acquire seven former Bow Tie Cinemas locations with 66 screens, including five in Connecticut, one in upstate New York and one in Annapolis, Maryland. The new Connecticut theater locations will double AMC’s overall presence in the state.

Ticker	Security	Last	Change	Change %
AMC	AMC ENTERTAINMENT HOLDINGS INC	18.29	+0.87	+5.00%

Elsewhere, Peloton’s new CEO Barry McCarthy got a slam from activist Blackwells Capital. The firm says he has done little since taking over in February when John Foley was moved to a separate role.

Ticker	Security	Last	Change	Change %
PTON	PELOTON INTERACTIVE INC.	24.05	+0.34	+1.44%

U.S. oil topped $100 per barrel as traders monitored Russia’s tightening supply after Moscow said talks to resolve its invasion of Ukraine had come to a dead end.