S&P 500, Nasdaq 100 Notch New Records
Stocks in the US climbed on Thursday as upbeat earnings and strong economic data helped push major indexes toward fresh record highs.
The S&P 500 and Nasdaq 100 rose 0.5% and 0.7%, respectively, both close at new records, while the Dow Jones gained 230 points, or 0.5%.
US retail sales rose 0.6% in June, exceeding expectations and highlighting the resilience of consumer spending despite ongoing tariff concerns.
Initial jobless claims declined to 221,000, the lowest level in three months, reinforcing confidence in the strength of the labor market. United Airlines and PepsiCo led earnings-driven gains, with shares jumping 3.1% and7.4%, respectively.
TSMC surged 3.9% on record profits, lifting chipmakers including Nvidia (+0.9%) and Marvell (+1.6%).lifting sentiment across the chip sector ahead of Netflix’s quarterly results due after the close.
Source: Trading Economics