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Business Times
7 hours ago
- Business
- Business Times
US: S&P 500, Nasdaq end at record highs after solid retail data
[NEW YORK] Wall Street stocks rose to fresh record highs on Thursday (Jul 16) as markets focused on solid US retail sales data and corporate earnings rather than lingering worries about US President Donald Trump's tariffs. The broad-based S&P 500 rose 0.5 per cent to 6,297.36, while the tech-rich Nasdaq Composite Index gained 0.8 per cent to 20,885.65, its fourth straight closing record. The Dow Jones Industrial Average climbed 0.5 per cent to 44,484.49. Analysts expect the bullish sentiment in the markets to continue until there is a reason for it to stop. Investors are taking a wait-and-see approach to Trump's Aug 1 tariff deadline and not overthinking the president's denial that he plans to fire Federal Reserve chair Jerome Powell. 'Right now, as long as the markets don't have a reason to sell off, they are going to go up,' said Steve Sosnick of Interactive Brokers. 'The news on the economy this week has been good enough.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Investors were wary heading into the second-quarter earnings season, but 'the data so far and the earnings are coming in better than expected', said Jack Ablin of Cresset Capital Management. US retail sales climbed 0.6 per cent in June to US$720.1 billion, reversing the 0.9 per cent decline in May and easily topping analyst expectations. But with tariffs and inflation a growing worry, the strong retail sales trend appears likely to moderate, said Neil Saunders, managing director of GlobalData. 'However, it is still unlikely that the consumer will fall into a full-blown recession, especially so if interest rates come down,' Saunders said. Among individual companies, United Airlines climbed 3.1 per cent as it offered an upbeat outlook on travel demand in the second half of 2025 despite reporting a drop in second-quarter profits. PepsiCo was another outperformer, winning 7.5 per cent as analysts cited its revenue growth after three straight quarters of lower sales. AFP
Straits Times
8 hours ago
- Business
- Straits Times
S&P 500, Nasdaq end at record highs after solid US retail data
Find out what's new on ST website and app. Traders working on the floor of the New York Stock Exchange, in New York City, on July 17. NEW YORK - Wall Street stocks rose to fresh record highs on July 17 as markets focused on solid US retail sales data and corporate earnings rather than lingering worries about President Donald Trump's tariffs. The broad-based S&P 500 rose 0.5 per cent to 6,297.36, while the tech-rich Nasdaq Composite Index gained 0.7 per cent to 20,884.27, its fourth straight closing record. The Dow Jones Industrial Average climbed 0.5 per cent to 44,484.49. Analysts expect the bullish sentiment in the markets to continue until there is a reason for it to stop. Investors are taking a wait-and-see approach to Mr Trump's Aug 1 tariff deadline and not overthinking the president's denial that he plans to fire Federal Reserve chair Jerome Powell. 'Right now, as long as the markets don't have a reason to sell off, they're going to go up,' said Mr Steve Sosnick, of Interactive Brokers. 'The news on the economy this week has been good enough.' Investors were wary heading into second-quarter earnings season, but 'the data so far and the earnings are coming in better than expected,' said Mr Jack Ablin, of Cresset Capital Management. US retail sales climbed 0.6 per cent in June to US$720.1 billion (S$926 billion), reversing the 0.9 per cent decline in May and easily topping analyst expectations. But with tariffs and inflation a growing worry, the strong retail sales trend appears likely to moderate, said Mr Neil Saunders, managing director of GlobalData. 'However, it is still unlikely that the consumer will fall into a full-blown recession – especially so if interest rates come down,' Mr Saunders said. Among individual companies, United Airlines climbed 3.1 per cent as it offered an upbeat outlook on travel demand in the second half of 2025 despite reporting a drop in second-quarter profits. PepsiCo was another outperformer, winning 7.5 per cent as analysts cited its revenue growth after three straight quarters of lower sales. AFP
Miami Herald
13 hours ago
- Business
- Miami Herald
Stock Market Today: Stocks open higher on big earnings, better retail sales
Stocks opened higher on Thursday as strong earnings and better economic news cheered investors. The earnings included record profits from Taiwan Semiconductor (TSM) , the key fabricator of high-end semiconductors, raised guidance from GE Aerospace (GE) and decent profits from United Airlines (UAL) after Wednesday's close and from soft-drink-and-snack giant PepsiCo (PEP) before the open. In addition, retail sales in June, at least the first whack at the data, bounced back from May's decline, and initial jobless claims fell to 221,000 from a revised 228,000 a week earlier. The bottom line is that, so far, President Trump's tariff ideas, which are not yet official, aren't deterring many consumers. Trump early today proposed a standard tariff rate of 10% to 25%. At 9:50 a.m. EDT, the Standard & Poor's 500 Index was up 16 points to 6,280. The Dow Jones Industrial Average added 137 points to 44,393, and the Nasdaq Composite Index rose 91 points to 20,822. Microsoft (MSFT) hit a new 52-week high of $509.37. Also hitting 52-week highs: Nvidia (NVDA) , Broadcom (AVGO) , and crypto giant Coinbase (COIN) . Netflix (NFLX) was due to report after the close. Gold was down slightly at $3,222 per troy ounce. Crude oil was up slightly at $65.36 per barrel. The 10-year Treasury yield slipped tro 4.44%. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Recorder
14 hours ago
- Business
- Business Recorder
US stocks gain after good retail sales report
NEW YORK: Wall Street stocks opened higher Thursday following a better-than-expected US retail sales report and a round of mostly solid corporate earnings. Overall retail sales climbed 0.6 percent in June to $720.1 billion, reversing the 0.9 percent decline in May. The figures topped analyst expectations. Besides the retail sales, another week of modest weekly US jobless claims provided reassurance on the economy, said Art Hogan of B. Riley Wealth Management. 'We've been worried about earnings and trade wars, but the economic data (…) remains resilient,' Hogan said. Wall Street wobbles after Trump denies plans to fire Powell About 20 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 44,459.85. The broad-based S&P 500 gained 0.2 percent to 6,277.12, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 20,784.75. Since the stock market closed Wednesday, several companies from different sectors have reported earnings. In general, the reports have been solid or good, analysts said. Among the big movers after results, United Airlines jumped 5.8 percent, PepsiCo gained 5.9 percent and Abbott Laboratories fell 7.3 percent.
Mint
15 hours ago
- Business
- Mint
Wall Street Live: S&P 500, Dow Jones, Nasdaq gain after retail sales data, solid earnings
US stock indices opened higher on Thursday following a better-than-expected retail sales data and on solid earnings. In the early trading, the Dow Jones Industrial Average was up 0.5% at 44,459.85. The broad-based S&P 500 gained 0.2% to 6,277.12, while the tech-rich Nasdaq Composite Index advanced 0.3% to 20,784.75. Retail sales rose 0.6% in June to $720.1 billion as compared to a 0.9% decline in May. Besides the retail sales, modest weekly US jobless claims also provided reassurance on the economy. United Airlines stock jumped 5.8%, PepsiCo surged 5.9% and Abbott Laboratories slumped 7.3%.
