FX.co ★ S&P 500, Nasdaq 100 Notch New Records

Stocks in the United States experienced an upswing on Thursday, driven by positive earnings reports and robust economic data, pushing major indexes toward new record highs. The S&P 500 advanced by 0.5%, and the Nasdaq 100 increased by 0.7%, both nearing new peaks, while the Dow Jones Industrial Average climbed 230 points, or 0.5%. US retail sales rose by 0.6% in June, surpassing expectations and underscoring the strength of consumer spending, despite lingering tariff concerns. Initial jobless claims fell to 221,000, marking the lowest level in three months, bolstering confidence in the strength of the labor market. United Airlines and PepsiCo led the earnings-driven rally, with their stocks jumping 3.1% and 7.4%, respectively. Taiwan Semiconductor Manufacturing Company (TSMC) surged by 3.9% on the back of record profits, boosting chipmakers, including Nvidia, which rose by 0.9%, and Marvell Technology, which increased by 1.6%. This lifted sentiment across the chip sector, ahead of Netflix’s anticipated quarterly results due after the market close.