Stocks rallied on Thursday, with the S&P 500 and Nasdaq 100 reaching new record highs. Positive economic news included a decline in jobless claims, strong retail sales, and a rise in the Philadelphia Fed index. Health insurers fell after Elevance Health cut its earnings outlook. Fed comments and trade news also impacted the market.

US weekly initial unemployment claims unexpectedly fell to a 3-month low, showing a stronger labor market. June retail sales exceeded expectations, with retail sales ex-autos also higher than forecasted. The June import price index ex-petroleum remained flat, weaker than expected.

The US July Philadelphia Fed business outlook survey rose to a 5-month high, surpassing expectations. The July NAHB housing market index met expectations. President Trump announced plans for tariffs on European Union, Mexico, and Canada, impacting trade dynamics.

Earnings season began with a focus on big bank results. Overseas markets settled higher, with the Euro Stoxx 50, Shanghai Composite, and Nikkei Stock 225 all closing up. Interest rates saw fluctuations, with T-notes posting losses and European government bond yields mixed.

Stock movers included United Airlines, PepsiCo, Snap-on, Steven Madden Ltd, CSX Corp, Travelers Cos, Mondelez International, and various health insurance providers. Sonic Automotive, Abbott Laboratories, Starwood Property Trust, Shake Shack, and Zoetis also saw movement after earnings reports on 7/18/2025.

Read more at Yahoo Finance: S&P 500 and Nasdaq 100 Rally to Record Highs on a Resilient US Economy