Traders work at the New York Stock Exchange on July 15, 2025.
NYSE
S&P 500 futures moved higher on Thursday as traders cheered a strong earnings week and June economic data.
Futures tied to the broad-market index added 0.1%. Nasdaq 100 futures gained 0.2%. Futures tied to the Dow Jones Industrial Average shed 13 points, or less than 0.1%.
PepsiCo and GE Aerospace traded higher in the premarket after both companies posted better-than-expected earnings. United Airlines shares slid 1% after the company released a lackluster full-year earnings forecast. To be sure, the airline still beat earnings estimates.
Quarterly earnings reports released this week have exceeded Wall Street’s expectations, fueling investor confidence. More than 45 S&P 500 components have reported thus far, with 87% of those exceeding analysts’ expectations, FactSet data shows.
Key data releases on Thursday reflected strength in the U.S. economy, giving stock futures a bump. The Labor Department reported Thursday that jobless claims for the week ending July 12 came out at 221,000, marking a decrease of 7,000 from the previous week.
Separately, retail sales in June rose more than expected, according to new data from the U.S. Census Bureau. Retail sales were up 0.6% from May, beating the 0.2% estimate from the Dow Jones consensus.
Wall Street is coming off a volatile trading session after President Donald Trump denied that he was planning to fire Federal Reserve Chairman Jerome Powell from his position as Fed chief.
Stocks ended the day higher, but dropped sharply at one point Wednesday after a White House official said that Trump “likely will soon” fire Powell from his post, with the blue-chip Dow dropping more than 260 points at its session low. However, equities rebounded after Trump later downplayed the reports and said he was “not planning on doing it,” although he added that he does not “rule out anything.”
This week, the S&P 500 is trading higher by less than 0.1%. The 30-stock Dow is down nearly 0.3%, while the Nasdaq has jumped 0.7%.
PepsiCo, GE Aerospace and TSMC are among several stocks moving before Wednesday’s open
Check out the companies making the biggest moves in premarket trading:
- PepsiCo — The snack and beverage company rose 3% following its second-quarter beat on both the top and bottom lines. Adjusted earnings came in at $2.12 per share on revenues of $22.73 billion, versus the $2.30 per share on revenue of $22.28 billion, according to LSEG.
- GE Aerospace — Shares of the jet engine maker ticked up about 1% after second-quarter results beat expectations. GE Aerospace reported $1.66 in adjusted earnings per share on $10.15 billion of adjusted revenue. Analysts were expecting $1.43 per share and $9.59 billion, according to FactSet. GE Aerospace also raised full-year guidance on several metrics.
- Taiwan Semiconductor Manufacturing — Shares of the chip manufacturer added 3.3% after the company’s second-quarter profit rose 61% from the year prior, hitting a record high and beating estimates.
For the full list, read here.
— Pia Singh
June data suggests strength in labor market, retail sales
People shop at a Manhattan retail store on July 15, 2025 in New York City.
Spencer Platt | Getty Images
A couple key releases on Thursday are signaling good news for the U.S. economy.
Jobless claims are suggesting that the labor market remains strong. The figure for seasonally adjusted initial claims was 221,000 for the week ending July 12, marking a decrease of 7,000 from the previous week’s revised level, according to U.S. Department of Labor data.
Separately, retail sales in June rose more than expected.
Retail sales were up 0.6% from May, and up 3.5% from last year, according to data from the U.S. Census Bureau. That beat the 0.2% consensus estimate from Dow Jones. Sales excluding autos were also up 0.5% in the previous month, which also was better than the 0.3% estimate from economists polled by Dow Jones.
— Pia Singh
Crypto regulation bills move forward after record-setting House vote
The future of three crypto bills in Congress remains uncertain after two days of House Republican infighting over the contents of the legislation and the process for moving it.
Late Wednesday night, the House GOP finally approved the rules of debate for the crypto bills and an adjacent Pentagon appropriations package, allowing consideration for the bills. The vote was the longest-ever in the House.
The three bills in question include one, the GENIUS Act, which passed the Senate in June, and two others that are moving through the House first: The CLARITY Act and a bill that would bar the Federal Reserve from establishing a central bank digital currency.
Bitcoin has been trading at all-time highs in recent days, fueled by optimism on the crypto legislation and the institutional buying of bitcoin exchange-traded funds (ETFs).
— Erin Doherty, Pia Singh
Shares of United Airlines dip after airline gives lower full-year earnings forecast
United Airlines planes at Denver International Airport in Denver, Colorado on Wednesday, July 2, 2025.
Aaron Ontiveroz | Denver Post | Getty Images
United Airlines shares dipped more than 1% in premarket trading after the company issued a new 2025 forecast.
The airline, which beat second-quarter earnings estimates, said it now expects to earn between $9 and $11 a share this year, down from a forecast earlier this year of between $11.50 and $13.50 a share. United Airlines’ third-quarter forecast was within the range of analysts’ expectations, meanwhile.
The company’s CEO said travel demand is picking up. “The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year,” CEO Scott Kirby said.
Shares of United Airlines are down about 8.9% this year, but have jumped roughly 20% over the past month. More on United Airlines’ quarterly results here.
— Pia Singh, Leslie Josephs
PepsiCo rises on earnings beat
PepsiCo shares gained more than 1% after the snack and beverage giant posted second-quarter results that beat analyst expectations — even as demand in the U.S. fell.
The company earned an adjusted $2.12 per share on revenue of $22.73 billion. Analysts polled by LSEG expected a profit of $2.03 per share on revenue of $22.27 billion.
PEP 5-day chart
— Fred Imbert
Asia-Pacific markets mostly close higher
Asia-Pacific markets mostly ended the day higher Thursday.
Hong Kong’s Hang Seng Index closed flat at 24,498.95, while mainland China’s CSI 300 index increased by 0.68% to 4,034.49.
Japan’s Nikkei 225 benchmark added 0.6% to close at 39,901.19, while the broader Topix index rose 0.72% to 2,839.81.
Meanwhile, South Korea’s Kospi index moved up 0.19% to close at 3,192.29, while the small-cap Kosdaq advanced 0.74% to 818.27.
Australia’s S&P/ASX 200 benchmark ended the day 0.9% higher at 8,639.
Over in India, the 50-stock benchmark Nifty 50 was down 0.12%, while the Sensex index lost 0.25% as of 1.55 p.m. Indian Standard Time (4.25 a.m. ET).
— Amala Balakrishner
Eight of the 11 S&P 500 sectors ended Wednesday positive
Eight of the 11 sectors in the S&P 500 closed higher on Wednesday.
The gains were led by the health-care sector, which added 1.22%. The energy sector was the laggard and fell 0.84%.
Eight of the sectors are negative on the week, again led to the downside by energy, down 3.35%. Tech stocks, up 1.29%, are currently the week’s best performers.
— Christopher Hayes, Lisa Kailai Han
If Trump fired Fed Chair Powell, it would be ‘significantly negative for markets,’ Wolfe says
U.S. President Donald Trump and U.S. Federal Reserve Chair Jerome Powell.
Win McNamee | Annabelle Gordon | Reuters
Expect a “mess” for markets if President Donald Trump were to dismiss Federal Reserve Chair Jerome Powell from his post, analysts at Wolfe Research said.
“We expect, as does everyone else, that it would be significantly negative for markets, likely driving both an equity selloff and a counterproductive spike in long-term yields,” Wolfe’s Tobin Marcus and Chutong Zhu said in a Wednesday note.
Wolfe modeled out several scenarios of how things may unfold if Trump were to fire Powell. Click here to read CNBC’s Dan Mangan’s coverage of Wolfe’s findings.
Wolfe issued its note in what was a volatile day for investors as stocks initially tumbled after a White House official said that Trump “likely will soon” fire Powell, leading the Dow Industrials to fall more than 260 points at its session low. The major averages rebounded and ultimately closed higher after Trump later said he was “not planning on doing it,” but noted that he does not “rule out anything.”
—Darla Mercado
Stocks making the biggest moves after the bell: United Airlines, Sarepta Therapeutics and more
These are the stocks moving the most in extended-hours trading:
United Airlines — Shares fell nearly 2% after the airline carrier posted a second-quarter revenue of $15.24 billion, missing analysts’ expectations of $15.35 billion, according to LSEG.
Sarepta Therapeutics — The biopharma stock soared 32% after the company announced a “strategic restructuring” plan that involved a 36% workforce reduction, or around 500 employees.
Monarch Casino & Resort — Shares popped 15% after the casino operator reported second-quarter earnings of $1.44 per share, up about 21% from the year-ago period.
Read the full list of stocks moving here.
— Lisa Kailai Han