Source: Sharecast
The S&P 500 rose 0.5% to a new peak of 6,297.36, while the Nasdaq jumped 0.8% to 20,885.65, with both surpassing previous record closes set on 10 July. The Dow meanwhile rose 0.5% to 44,484.49, closing in on the 45,000-point mark reached last December when it reached its own all-time high.
Uncertainty about ongoing tariff talks and speculation about whether Donald Trump intends to oust the head of the Federal Reserve took a back seat on Thursday, after retail sales, jobless claims and a key manufacturing gauge came in ahead of market forecasts.
"Who needs tariff worries when Americans keep flashing the cash? A good retail sales print has been enough to put stock markets back on the front foot, as investors are encouraged to forget the Powell drama of 24 hours ago," said Chris Beauchamp, chief market analyst at IG. "Jobless claims were also better than expected, providing a fresh reason to rush back into US names."
Data lifts sentiment
Data was in focus on Thursday, with stocks buoyed by news that retail sales rose more than expected in June, according to the Census Bureau, increasing 0.6% from May and beating consensus estimates of a 0.2% uptick.
US jobless claims were also making headlines after dropping to their lowest level since April. The Labor Department reported that initial jobless claims fell by 7,000 to 221,000 last week, well below market expectations of a rise to 235,000.
Import prices were unchanged at 141.80 in May, according to the Bureau of Labor Statistics, while export prices decreased from 152.70 to 151.30.
Meanwhile, the Philadelphia Federal Reserve's manufacturing index surged to 15.9 in July, its first positive reading after three consecutive months in negative territory and the highest level seen since February. The index rebounded from its June print of -4.0 and was well and truly ahead of market expectations of -1.0.
Market movers
PepsiCo shares jumped 7% after the food and beverage giant reported stronger-than-expected second-quarter results, with robust international sales and resilient soda demand helping offset weaker performance in North America.
The company reaffirmed its full-year guidance and slightly raised its core earnings forecast as currency headwinds eased, as it reported a 1% increase in Q2 revenue to $22.73bn, beating Wall Street estimates of $22.28bn, according to LSEG data. Core earnings per share came in at $2.12, ahead of the $2.03 analysts had forecast.
Chip group TSMC put in a decent performance after revealing a 61% surge in profits and a 39% jump in revenues for the second quarter, with both measures beating estimates.
United Airlines also impressed with stronger earnings than expected, as investors shrugged off the news of a downgrade to full-year profit guidance.
Dow Jones - Risers
Travelers Company Inc. (TRV) $261.81 3.81%
Walt Disney Co. (DIS) $122.21 1.99%
Coca-Cola Co. (KO) $70.59 1.91%
JP Morgan Chase & Co. (JPM) $289.90 1.43%
Cisco Systems Inc. (CSCO) $68.30 1.38%
Caterpillar Inc. (CAT) $418.36 1.26%
Procter & Gamble Co. (PG) $155.62 1.23%
Nike Inc. (NKE) $73.01 1.22%
Microsoft Corp. (MSFT) $511.70 1.20%
Dow Chemical Co. (DOW) $28.47 1.14%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $288.07 -1.51%
Merck & Co. Inc. (MRK) $81.52 -1.10%
Johnson & Johnson (JNJ) $162.98 -1.09%
Verizon Communications Inc. (VZ) $40.95 -0.73%
Goldman Sachs Group Inc. (GS) $705.84 -0.42%
Amgen Inc. (AMGN) $298.25 -0.26%
Walgreens Boots Alliance, Inc. (WBA) $11.51 -0.09%
Apple Inc. (AAPL) $210.02 -0.07%
Walmart Inc. (WMT) $95.13 -0.06%
Visa Inc. (V) $349.81 -0.03%
S&P 500 - Risers
Nektar Therapeutics (NKTR) $26.67 10.48%
Snap On Inc. (SNA) $337.80 7.92%
Albemarle Corp. (ALB) $75.80 7.57%
PepsiCo Inc (PEP) $145.44 7.45%
Allegion (ALLE) $153.71 5.11%
Brown Forman Corp. Class B (BF.B) $29.10 4.95%
Eaton Corporation plc (ETN) $380.56 4.91%
Hershey Foods Corp. (HSY) $171.16 4.24%
VF Corp. (VFC) $12.28 3.98%
Smith A O Corp. (AOS) $70.71 3.97%
S&P 500 - Fallers
Elevance Health Inc. (ELV) $302.45 -12.22%
Abbott Laboratories (ABT) $120.51 -8.52%
Omnicom Group Inc. (OMC) $70.82 -4.31%
Interpublic Group of Companies Inc. (IPG) $24.14 -4.25%
Centene Corp. (CNC) $29.14 -4.18%
Sl Green Realty Corp. (SLG) $61.45 -4.08%
Eli Lilly and Company (LLY) $762.11 -3.58%
ProLogis (PLD) $106.53 -3.39%
Dollar General Corp (DG) $109.26 -2.97%
Micron Technology Inc. (MU) $113.26 -2.72%
Nasdaq 100 - Risers
CSX Corp. (CSX) $34.50 3.73%
Cintas Corp. (CTAS) $221.92 3.69%
Mondelez International Inc. (MDLZ) $69.80 3.45%
JD.com, Inc. (JD) $32.69 3.32%
Synopsys Inc. (SNPS) $589.01 3.12%
Qvc Group Inc Series A (QVCGA) $2.80 2.94%
Expedia Group Inc. (EXPE) $182.08 2.12%
Broadcom Inc. (AVGO) $286.45 2.01%
Cadence Design Systems Inc. (CDNS) $320.86 1.99%
Kraft Heinz Co. (KHC) $28.13 1.99%
Nasdaq 100 - Fallers
Micron Technology Inc. (MU) $113.26 -2.72%
Mercadolibre Inc. (MELI) $2,351.14 -2.25%
Take-Two Interactive Software Inc. (TTWO) $233.92 -2.01%
PACCAR Inc. (PCAR) $94.05 -1.40%
Vertex Pharmaceuticals Inc. (VRTX) $463.27 -1.34%
Asml Holdings N.V. (ASML) $744.91 -1.26%
Applied Materials Inc. (AMAT) $192.52 -1.18%
Trip.com Group Limited (TCOM) $62.32 -1.13%
Gilead Sciences Inc. (GILD) $108.80 -0.96%
QUALCOMM Inc. (QCOM) $152.61 -0.95%