SPX: S&P 500 Logs Ninth Record Close of 2025 as Retail Sales Surprise to Upside

Earnings are helping buoy equities higher — PepsiCo and United Airlines both beat consensus calls. Netflix reported 16% revenue growth after the bell.

🚂 Indexes Can’t Stop, Won’t Stop

• Choo-choo — It’s the gain train! The S&P 500 booked its ninth record close of 2025, rising 0.5% to 6,297.36. Its tech-heavy peer the Nasdaq Composite IXIC was right there with it, notching its tenth all-time high close. Records, records everywhere!
• The Dow Jones Industrial Average DJI added 230 points and joined the ATH club but just for the session — it slipped under its current closing high.
• It’s been a grind, though — pushing past tariff threats, trade wars, inflation jitters and Fed drama. Thankfully, solid data and corporate muscle flexing inspired confidence in the bulls who are very much back in charge — and not quiet about it.

🧃 Earnings Serve the Juice

• PepsiCo PEP popped over 7% after fizzing past earnings expectations — apparently, snacks and soda still sell in any economy. United Airlines UAL also climbed 3% on strong travel demand and solid results.
• With about a tenth of the S&P 500 companies showing up to report, roughly 90% have topped estimates, according to FactSet data. Is it the strength of the economy or is it a lower bar? A bit of both.
• Netflix NFLX dropped its latest season of financials after the bell: 16% revenue growth and a strong beat. Subscriptions? Not reporting that anymore, but the cash is still rolling in, and that’s what matters to investors.

🔎 Economic Data Surprises

• Initial jobless claims fell to 221,000 — a 7,000 drop that suggests the labor market is still humming, despite talks of stalling hiring and a wobbling economy.
• Retail sales in June rose 0.6%, triple the 0.2% consensus forecast. Consumers clearly didn’t get the memo about slowing down — or maybe they just saw a good sale.
• With earnings and economic data working in sync, investor sentiment is riding high. That is, in the lead up to the Magnificent Seven earnings wave coming soon — brace yourself (and your portfolio).