The S&P 500 increased by 0.54%, achieving a record closing value of 6,297.36 — marking its ninth record close this year. The tech-heavy Nasdaq Composite recorded a 0.75% increase, achieving its tenth record close of 2025, concluding at 20,885.65. Both indexes reached new intraday all-time highs. The Dow Jones Industrial Average increased by 229.71 points, representing a rise of 0.52%, concluding the session at 44,484.49.

PepsiCo experienced a notable increase of over 7% following the release of earnings that surpassed expectations. United Airlines experienced a 3% increase following its performance that surpassed earnings estimates. This week’s quarterly earnings reports have surpassed Wall Street’s forecasts, bolstering investor confidence. Approximately 50 components of the S&P 500 have reported earnings to date, with 88% of these surpassing analysts’ forecasts, according to data from FactSet.

Key data releases on Thursday indicated robust performance in the U.S. economy. The Labor Department reported that initial jobless claims for the week ending July 12 totaled 221,000, reflecting a decline of 7,000 from the prior week.
In a separate development, retail sales in June exceeded expectations, as indicated by recent data from the U.S. Census Bureau. Retail sales increased by 0.6% compared to May, surpassing the Dow Jones consensus estimate of 0.2%. “A reassuring retail sales result comes at the perfect time as earnings season kicks into gear,” stated Bret Kenwell, eToro U.S. investment analyst. “If earnings exceed expectations and management maintains a positive narrative regarding consumer spending, stocks may respond positively — even following a rally to record highs that some investors might consider overextended. Ultimately, it is consumers who serve as the foundation of the U.S. economy.

Wall Street is experiencing a turbulent trading session following President Donald Trump’s denial of any intentions to dismiss Jerome Powell from his role as chairman of the Federal Reserve. This week, the S&P 500 is poised for a 0.6% increase, whereas the 30-stock Dow is projected to achieve a 0.3% rise. The Nasdaq has emerged as the standout performer to date, registering an increase of approximately 1.5% during this timeframe.