S&P 500 and Nasdaq Hit Record Highs Amid Strong Economic Data and Earnings

The S&P 500 and Nasdaq Composite both achieved record highs on Thursday, reflecting investor optimism in response to robust economic data and positive earnings reports. This marks the sixth record close for Nasdaq in the last seven sessions and another successful trading day for the S&P 500 since late June.

Gains were notable across major indexes, with the Nasdaq rising by 153.78 points to 20,884.27 and the S&P 500 climbing 33.66 points to 6,297.36. The Dow Jones also experienced an uptick of 229.71 points to settle at 44,484.49. This upward trend persisted despite earlier volatility due to tariff announcements by President Donald Trump.

Strong U.S. retail sales data provided further confidence, as consumer spending showed resilience despite inflationary pressures, partly fueled by tariff policies. Technology stocks, buoyed by AI chip demand, significantly contributed to the upward momentum, as did positive results from American corporations, highlighting a robust economic backdrop.

(With inputs from agencies.)