FX.co ★ US Stocks Edge Up

On Thursday, the three major U.S. stock indices each saw a slight uptick of 0.1%, as investors digested a new wave of economic data and corporate earnings. U.S. retail sales showed a robust 0.6% increase in the previous month, significantly surpassing the anticipated 0.1% rise. This data provided reassurance about the steady strength of consumer spending. In another positive sign, the number of initial jobless claims decreased to 221,000, indicating ongoing labor market strength. Investor concerns eased somewhat after President Trump dismissed rumors of plans to remove Federal Reserve Chair Powell. The consumer staples and industrial sectors delivered the strongest performances, while the healthcare sector lagged behind. In earnings news, shares of PepsiCo surged over 6% following the release of quarterly earnings and revenue figures that exceeded forecasts. United Airlines' stock climbed 5.7%, despite the company issuing a modest full-year earnings forecast, as it noted conditions had become more stable compared to the first half of the year. Additionally, Netflix is slated to report its earnings after the market closes.