Wall Street Reaches Record Highs on Strong Earnings, Retail Sales

US stock markets, led by technology and financial sectors, surged to new record highs following stronger-than-expected retail sales and positive corporate earnings reports. Retail sales rebounded by 0.6% in June, far exceeding forecasts and signaling robust consumer spending despite tariff-related pressures. Around 88% of S&P 500 companies have surpassed earnings estimates, with notable gains from PepsiCo and United Airlines fueling investor optimism. Jobless claims unexpectedly fell to a three-month low, supporting hopes for a soft economic landing amid persistent inflation concerns. However, investor caution remains due to uncertainty over Federal Reserve leadership and potential policy shifts announced by President Trump. Overall, strong earnings and economic data have bolstered market confidence, driving optimism for continued growth while investors remain watchful of sector-specific vulnerabilities and monetary policy developments.