U.S. stocks ended higher on Thursday, with the S&P 500 and the Nasdaq closing at new record highs, as fresh economic data and solid earnings from a slew of big companies bolstered investors’ faith in the economy. All three major indexes ended in positive territory.
The Dow Jones Industrial Average (DJI) jumped 0.5% or 229.71 points, to close at 44,484.49 points.
The S&P 500 rose 0.5%, or 33.66 points, to finish at 6,297.36 points, posting a new record closing high. Financial, tech and consumer staple stocks were the biggest gainers.
The Consumer Staples Select Sector SPDR (XLP) and the Financials Select Sector SPDR (XLF) each rose 1%. The Technology Select Sector SPDR (XLK) added 0.9%. Nine of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq gained 0.7%, or 153.78 points, to end at 20,884.27 points, posting a new all-time closing high.
The fear-gauge CBOE Volatility Index (VIX) was down 3.73% to 16.52.
U.S. stocks have had a solid run since taking a hit after President Donald Trump’s Liberation Day tariff announcement in April. This week so far has proved to be good, as a slew of economic reports has raised investors’ confidence in the economy.
On Thursday, stocks rallied after fresh economic data reflected strength in the nation’s economy. The Labor Department reported that initial jobless claims for the week ending July 12 decreased by 7,000 from the previous week to a total of 221,000.
Separately, the Commerce Department reported that retail sales jumped 0.6% sequentially in June, surpassing analysts’ expectations of a rise of 0.2%. The solid retail sales figures indicate that the economy is still on solid ground, as consumers are willing to spend despite inflationary pressures.
Also, earnings reports released over the week have exceeded investors’ expectations. A slew of big companies reported impressive quarterly reports on Thursday that added fuel to the Wall Street rally.
Shares of PepsiCo, Inc. (PEP) jumped 7.5% after the company reported second-quarter 2025 earnings of $2.12 per share, beating the Zacks Consensus Estimate of $2.03 per share. PepsiCo has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
However, shares of Abbott Laboratories (ABT) tumbled 8.5% despite the company beating on earnings. Abbott Laboratories reported second-quarter 2025 earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.25 per share.
