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US markets end higher amid largely positive economic data
Jul-18-2025

The US markets ended higher on Thursday with Nasdaq and S&P 500 closing at new record high. Investors’ sentiments remained optimistic following the release of a batch of largely upbeat US economic data, including a Commerce Department report showing retail sales rebounded by much more than expected in the month of June. The report said retail sales climbed by 0.6 percent in June after slumping by 0.9 percent in May, meanwhile, street had expected retail sales to inch up by 0.1 percent. Moreover, report released by the Labor Department showing first-time claims for US unemployment benefits unexpectedly dipped to a three-month low in the week ended July 12, kept the sentiments upbeat. The Labor Department said initial jobless claims fell to 221,000, a decrease of 7,000 from the previous week's revised level of 228,000, meanwhile, street had expected jobless claims to rise to 235,000 from the 227,000 originally reported for the previous week. Besides, the Labor Department also released another report showing import prices in the US inched up by less than expected in the month of June.

On the sectoral front, networking stocks turned in some of the market's best performances on the day, with the NYSE Arca Networking Index surging by 2.0 percent. Besides, significant strength also emerged among oil service stocks amid a sharp increase by the price of crude oil, driving the Philadelphia Oil Service Index up by 1.7 percent. 

Dow Jones Industrial Average rose 229.71 points or 0.52 percent to 44,484.49, Nasdaq advanced 155.16 points or 0.75 percent to 20,885.65 and S&P 500 climbed 33.66 points or 0.54 percent to 6,297.36.

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