Nasdaq 100 Sets New Records, Small Caps Outperform: What's Moving Markets Thursday?

U.S. equities climbed on Thursday, with the S&P 500 briefly testing a record high 6,300 level at midday in New York, bolstered by strong earnings and upbeat retail sales data that reinforced investor risk appetite.

The Nasdaq 100 rose 0.9% to a fresh record above 23,000, while the Dow Jones Industrial Average gained 0.4% to 44,400. Small-cap stocks continued to outperform, with the Russell 2000 advancing 1.3%.

Retail sales rebounded in June, rising 0.6% month-over-month after a revised 0.9% drop in May, far exceeding consensus expectations of a 0.1% gain. Meanwhile, initial jobless claims fell to 221,000, the lowest since April, suggesting ongoing resilience in the labor market.

Investor nerves eased after President Donald Trump denied reports suggesting he was considering the removal of Federal Reserve Chair Jerome Powell.

Tech-led sector gains, with the combined market capitalization of the so-called Magnificent Seven stocks climbing to $18.4 trillion.

Bond market jitters persisted as 30-year Treasury yields ...