US Stock Market Highlights: U.S. stocks advanced on Thursday as strong corporate earnings and upbeat economic data boosted market sentiment. PepsiCo and United Airlines shares rose on earnings beats, while jobless claims and retail sales data signalled continued economic resilience. Most S&P 500 earnings have exceeded analyst expectations so far.
US Stock Market Highlights: US stocks moved higher on Thursday, supported by positive economic indicators and corporate earnings. The S&P 500 rose 0.5% to end at a new all-time high. The Dow Jones Industrial Average climbed 230 points, or 0.5%. The Nasdaq Composite, with its tech-heavy weighting, added 0.7%, also closing at a record level.PepsiCo shares surged more than 5% after reporting earnings that topped expectations. United Airlines gained 6% following an earnings beat.
This week’s quarterly results have largely surpassed Wall Street forecasts. About 50 S&P 500 companies have reported so far, with 88% exceeding analyst estimates, according to FactSet.
Economic data released on Thursday also pointed to a resilient U.S. economy. Jobless claims for the week ending July 12 stood at 221,000, down 7,000 from the previous week, the Labor Department said.
In a separate report, the U.S. Census Bureau said retail sales rose 0.6% in June compared with May, beating the Dow Jones estimate of 0.2%.
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