• The S&P 500 added 0.5% on Thursday, July 17, 2025, notching a record closing high for the first time in a week as June retail sales exceeded economists’ forecasts.

• Pepsi stock popped higher as the soda and snack giant topped quarterly estimates and lifted its profit outlook.

• Elevance Health slashed its full-year guidance, citing ACA and Medicaid cost pressure, and shares of the insurer plunged.
  

Major U.S. equities indexes pushed higher Thursday as a report revealed an increase in retail sales in June, suggesting that consumer spending remains strong despite tariff concerns.

The S&P 500 advanced 0.5% to reach a record closing high, surpassing the all-time mark set by the benchmark index a week ago. The Dow also added 0.5%, while the Nasdaq jumped 0.7%, extending its string of consecutive record-setting daily closes to four. Read Investopedia’s full coverage of today’s trading here.

Snap-On (SNA) shares rose 7.9%, scoring Thursday’s top performance in the S&P 500, after the provider of professional tools topped second-quarter sales and profit estimates. The company highlighted the resilience of its gross margins despite trade-related uncertainties, a return to sales growth in its U.S. tools segment, and strong sales from its vehicle diagnostic and repair information products.

Lithium prices gained ground after China’s Zangge Mining said it stopped lithium production in Qinghai province following directives from local officials. Shares of Albemarle (ALB), the world’s largest lithium miner, surged 7.6%. Albemarle and other producers have cut employees and reduced expansion plans as they navigate a prolonged slump in the price of the key battery component.

PepsiCo (PEP) reported better-than-expected sales and profits for the second quarter, and shares of the soft-drink and snack-food giant jumped 7.5%. The parent company of brands like Mountain Dew and Lay’s potato chips offered a slightly improved forecast for core profits in 2025, noting that the weaker U.S. dollar contributed to its earnings outlook.

Elevance Health (ELV) shares plunged 12.2%, losing the most of any S&P 500 stock on Thursday. The parent of the Wellpoint, Anthem, and Carelon healthcare services fell short of quarterly profit estimates and lowered its full-year forecast, citing higher costs for Affordable Care Act and Medicaid coverage. Other health insurance stocks also moved lower. Molina Healthcare (MOH) shares slipped 5.5%, while shares of Centene (CNC), which pulled its full-year guidance earlier this month amid cost pressures, sank 4.2%.