Wall Street Rises as Job Figures and Reports Exceed Expectations

Courses on Wall Street in New York rose sharply since new statistics and unexpected nuggets in the companies' reporting flow testified that the US economy keeps up the steam.

» Published: July 17 2025

Wall Street Rises as Job Figures and Reports Exceed Expectations
Photo: Yuki Iwamura/AP/TT

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At the close, the Dow Jones industrial index and the broad S&P 500 index had both risen 0.5 percent and Nasdaq's technology-heavy composite index 0.7 percent

Thus, both S&P 500 and Nasdaq closed at new record levels, the latter for the third day in a row.

Taiwanese TSMC - the world's largest manufacturer of semiconductor circuits - sees in its quarterly report an unexpectedly large AI boost ahead and raised its forecast for sales growth this year from around 25 to 30 percent.

The company is a subcontractor to semiconductor giant Nvidia, the world's most valuable listed company, whose share was pulled up by the news and rose 1 percent on Thursday.

Nine out of ten surprise

Expectations were high ahead of the quarterly report that was expected after the market close from the streaming service Netflix, whose share rose 1.9 percent.

The soft drink and snack company Pepsico submitted a report that investors indulged in and the share rose 7.5 percent.

The market players' confidence and risk appetite are also boosted by the fact that almost nine out of ten quarterly reports that have been released on Wall Street so far this week have been better than expected.

Increased sales

New statistics showed on Thursday that 221,000 people applied for new unemployment benefits during the last measured week, which was 7,000 fewer than the previous week.

The fact that the US economy is keeping up the pace was also shown by the fact that retail sales rose 0.6 percent in June compared to May, which was much higher than the expected 0.2 percent.

Bret Kenwell, analyst at online broker Etoro, considers it good news that Americans' purchasing power is increasing.

In the end, consumers are the backbone of the American economy, he says to the news agency Bloomberg.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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