The S&P 500 Index rose by 0.30%, the Dow Jones increased by 0.35%, and the Nasdaq 100 climbed 0.40% today, indicating a positive outlook despite tariff uncertainties. Significant economic indicators included weekly jobless claims dropping by 7,000 to a three-month low of 221,000, June retail sales increasing by 0.6% month-over-month against a forecast of 0.1%, and the Philadelphia Fed index rising to a five-month high of 15.9.
United Airlines Holdings surged over 6% after its CEO expressed optimism about the business’s predictability in the second half of the year. Conversely, Elevance Health’s stock plummeted 11% following a disappointing earnings outlook, projecting approximately $30 per share compared to a prior estimate of up to $34.85.
On the trade front, President Trump announced potential tariffs ranging from 10% to 30% on imports from Europe, Mexico, and Canada, effective August 1. The market remains focused on tariff developments, with key data expected, including July’s NAHB housing market index and June housing starts and building permits later this week.
