Economic Optimism Drives Market Gains

Major Wall Street stock indexes closed higher on Thursday, fueled by a series of positive economic reports. Home builder confidence in the United States showed signs of recovery after two consecutive months of decline, while retail sales experienced a 0.6% growth. Additionally, initial jobless claims decreased by 7,000 in the previous week, further bolstering market sentiment.

Legislative Advances and Earnings Reports

Investors also reacted positively to the US House of Representatives passing two significant cryptocurrency-related bills, the CLARITY Act and the GENIUS Act. On the corporate front, PepsiCo reported stronger-than-expected financial results, enhancing investor confidence ahead of Netflix's anticipated earnings report.

Market Performance Highlights

The Dow Jones Industrial Average rose by 0.52%, with The Travelers Companies leading the gains at 3.81%. The Nasdaq 100 climbed by 0.74%, propelled by PepsiCo's 7.45% jump. Meanwhile, the S&P 500 advanced by 0.54%, with Snap on Inc surging by 7.92%.

In currency markets, the euro weakened against the dollar, trading at $1.15997 by late afternoon ET.