Wall Street Stocks in Favor After Strong Earnings and Jobless Claims and Retail Sales Data

Barry Adams
17 Jul, 2025
New York City

Wall Street indexes edged higher as investors reviewed the latest batch of positive earnings. 

The S&P 500 index advanced 0.2%, and the tech-heavy Nasdaq Composite inched up 0.4%, following better-than-expected earnings from leading corporations. 

GE Aerospace, United Airlines, PepsiCo, Taiwan Semiconductor, ABB Ltd., and Novartis AG reported better-than-expected earnings, supporting the improving market enthusiasm for riskier assets. 

 

Labor Market Stays Resilient Despite Tariff Woes

Initial jobless claims adjusted for seasonal factors decreased by 7,000 from the previous week to 221,000 in the week ending on July 12, the U.S. Department of Labor reported on Thursday. 

The jobless claims are suggesting that the labor market remains resilient, despite the ongoing business disruptions brought on by Trump's tariffs. 

Continuing claims, which lag by one week, were nearly unchanged at 1.956 million and stayed near the 2021 high reached in June. 

 

Retail Sales Growth Exceeds Expectations In June

The seasonally adjusted, but not for inflation, retail and food services sales edged up 3.9% in June from a year ago. 

On a monthly basis, sales inched up 0.6%, after falling 0.9% in the previous month.

Meanwhile, sales excluding food services, building materials stores, auto dealers and gasoline stations, which are used to calculate gross domestic product, inched up 0.5%, following a downwardly revised 0.2% rise in the previous month. 

 

U.S. Stock Movers 

United Airlines Holdings Inc. advanced 3% to $90.95, and the international carrier reported better-than-expected second-quarter earnings. 

However, the company lowered its annual earnings per share outlook range to between $9 and $11, from the previous estimate of between $11.50 and $13.50. 

The company guided that the travel demand is picking up after turmoil in the first half and disrupting the global economic environment of the previous year. 

Taiwan Semiconductor Manufacturing advanced 3.3% to $245.61, and the advanced chipmaker said revenue in the second quarter soared 38% and profit jumped 61% from a year ago, respectively.

The company boosted its annual outlook amid strong AI demand. 

GE Aerospace jumped 2.8% to $271.75, and the aircraft engine maker reported better-than-expected quarterly results. 

Revenue increased 21% to $11.0 billion from $9.1 billion, net income advanced 64% to $2.4 billion from $1.4 billion, and diluted earnings per share surged 56% to $1.87 from $1.20 a year ago.

The commercial aircraft engine maker lowered its revenue and earnings outlook for the full-year, and adjusted revenue is expected to increase in "low-double-digits" from the previous "mid-teens" estimate. 

In addition, adjusted earnings per share is now estimated in the range between $5.10 and $5.45 compared to the previous range between $5.60 and $5.80.

PepsiCo Inc. jumped 5.1% to $142.25 after the snack and beverage company's second-quarter results surpassed market expectations, despite the decline in sales in the U.S. 

The company delivered an adjusted earnings per share of $2.12 on revenue of $22.7 billion.