Stocks managed to extend their rally. Netflix beat earnings and raised forecast after the bell. VIX drifted lower. Gold and silver struggled to hold their ground.
Shares of online dating app Bumble (NASDAQ:BMBL)
jumped 3.1% in the morning session after stronger-than-expected U.S. retail sales data pointed to a resilient consumer, lifting sentiment for consumer-focused stocks.
Shares of chocolate company Hershey (NYSE:HSY)
jumped 4% in the afternoon session after new economic data showed unexpected strength in U.S. consumer spending, boosting investor confidence in consumer-focused stocks.
Shares of discount retail company Ollie’s Bargain Outlet (NASDAQ:OLLI)
jumped 3.4% in the afternoon session after the company announced the grand opening of its 600th store and benefited from a broader market rally fueled by strong U.S. economic data.
Shares of off-price retail company Burlington Stores (NYSE:BURL)
jumped 3.4% in the afternoon session after stronger-than-expected U.S. retail sales data pointed to resilient consumer spending, lifting investor sentiment for consumer-focused stocks.
Shares of online fashion resale marketplace ThredUp (NASDAQ:TDUP)
jumped 3.2% in the morning session after the release of stronger-than-expected U.S. retail sales data for June, which pointed to resilient consumer spending. The Commerce Department reported on Thursday that retail sales rose 0.6% last month, significantly beating market expectations. This report eased investor concerns about the health of the U.S. consumer, a key driver of the economy. For an online consignment and thrift store like ThredUp, the details of the report were particularly encouraging. This broad strength in apparel spending suggests that consumers are still willing to refresh their wardrobes, creating a positive backdrop for companies across the fashion retail landscape.
Shares of private label food company TreeHouse Foods (NYSE:THS)
jumped 3.5% in the afternoon session after new economic data showed unexpected strength in the U.S. economy. The positive sentiment across Wall Street came after a Commerce Department report showed U.S. retail sales rose a better-than-expected 0.6% in June, signaling resilient consumer spending. This news helped ease investor fears about a potential recession, boosting stocks across the consumer staples sector. For a company like TreeHouse Foods, which manufactures private-label snacks and beverages for retailers, signs of a strong and active consumer are encouraging. Robust consumer spending can translate into sustained demand for grocery products, supporting the stock's upward movement in line with the overall market trend. The positive data was reinforced by a separate report showing that first-time applications for unemployment benefits fell to a three-month low, indicating a steady job market.
Shares of eyewear retailer Warby Parker (NYSE:WRBY)
jumped 3.8% in the afternoon session after the release of stronger-than-expected U.S. retail sales data, which pointed to a resilient consumer. The eyewear retailer's stock gained amid a broad rally in consumer discretionary companies after the Commerce Department reported that June retail sales rose 0.6%. This rebound from declines in the prior two months eased investor concerns about a potential economic slowdown.
Shares of pop culture collectibles manufacturer Funko (NASDAQ:FNKO)
jumped 5% in the afternoon session after the company's stock benefited from a broader market rally fueled by strong U.S. economic data.
