Key Facts
• U.S. retail sales in June rose 0.6%, exceeding the forecast of 0.1%.
• Weekly jobless claims fell by 7,000 to 221,000, a three-month low.
• Dollar index increased 0.41% to 98.75; USD/JPY closed at 148.60.
• S&P 500 and Nasdaq hit record highs; Nasdaq rose for the 6th time in 7 sessions.
• 10-year Treasury yield rose slightly to 4.459%, briefly reaching 4.495%.
• Gold futures fell 0.41% to $3,345.30 per ounce due to a stronger dollar.
• WTI crude oil rebounded 1.75% to $67.54 per barrel amid Middle East tensions.
• PepsiCo shares surged 7.5% on strong Q2 earnings; United Airlines rose 3.1%.
• Semiconductor stocks gained as TSMC reported record profits driven by AI demand.
• Netflix shares rose 1.9%, supported by the popularity of the final season of “Squid Game.”
Summary
U.S. markets saw gains on July 17, driven by robust economic data and corporate earnings. Retail sales in June rose 0.6%, surpassing expectations, while jobless claims hit a three-month low. The dollar strengthened, with the index up 0.41%, and Treasury yields edged higher. The S&P 500 and Nasdaq reached record highs, supported by strong consumer spending and optimistic corporate outlooks. PepsiCo and United Airlines led gains, while semiconductor stocks surged on TSMC’s record profits. Gold prices fell due to a stronger dollar, while crude oil rebounded amid Middle East supply concerns. Overall, the data highlighted the resilience of the U.S. economy, easing fears of a slowdown.
