S&P 500 rises to new closing record, boosted by solid earnings and U.S. economic data

Stocks rose on Thursday, buoyed by fresh economic data reports along with a slew of corporate earnings releases.

The S&P 500 added 0.54% for a record close of 6,297.36 — its ninth this year. The tech-heavy Nasdaq Composite

 advanced 0.75% for its tenth record close of 2025, ending at 20,885.65. Both indexes also touched fresh intraday all-time highs. The Dow Jones Industrial Average gained 229.71 points, or 0.52%, and settled at 44,484.49.

PepsiCo shares jumped more than 7% on the back of better-than-expected earnings. United Airlines gained 3% after the airline beat earnings estimates.

Quarterly earnings reports released this week have exceeded Wall Street’s expectations, fueling investor confidence. Around 50 S&P 500 components have reported thus far, with 88% of those exceeding analysts’ expectations, FactSet data shows.

Key data releases on Thursday reflected strength in the U.S. economy. The Labor Department reported that initial jobless claims for the week ending July 12 came out at 221,000, marking a decrease of 7,000 from the previous week.

Separately, retail sales in June rose more than expected, according to new data from the U.S. Census Bureau. Retail sales were up 0.6% from May, beating the 0.2% estimate from the Dow Jones consensus.