United States benchmark averages rose on Thursday (Friday AEST), with the S&P 500 and Nasdaq Composite both closing at fresh record highs, bolstered by robust corporate earnings and stronger-than-expected U.S. economic data.
The Dow Jones Industrial Average gained 229.7 points, or 0.5%, to finish at 44,484.5. The S&P 500 added 33.6 points, or 0.5%, to end at a record 6,297.4 — its ninth record close of the year. The Nasdaq Composite jumped 155.2 points, or 0.8%, to a record 20,885.7, marking its tenth all-time high in 2025.
PepsiCo surged 7.5% higher after the beverage and snack giant posted earnings that beat expectations.
United Airlines increased 3.1% following better-than-expected quarterly results.
Economic data also added to investor optimism. The U.S. Labor Department reported 221,000 initial jobless claims for the week ending July 12, a decline of 7,000 from the prior week, while U.S. retail sales rose 0.6% in June, surpassing the 0.1% gain expected.
For the week so far, the S&P 500 is tracking a 0.6% gain, while the Dow is up 0.3%. The Nasdaq continues to lead the major benchmarks, rising 1.5%.
On the bond markets, the yield on the 10-year U.S. Treasury slipped 0.1% to 4.455%, while the 2-year note yield rose 0.3% to 3.907%.
