On Thursday, June 26, 2025, U.S. stock markets rallied, with major indexes approaching or surpassing record highs. The S&P 500 rose 0.8% to 6,141.02, just 0.05% below its all-time closing high set in February. The Dow Jones Industrial Average gained 0.9% to 43,386.84, while the Nasdaq Composite increased 1% to 20,167.91. The Russell 2000 index, representing smaller companies, climbed 1.7% to close at 2,172.11 .
Investor sentiment was buoyed by stronger-than-expected corporate earnings and favorable economic data. McCormick & Company reported adjusted earnings of $0.69 per share and net sales of $1.66 billion for its fiscal second quarter, surpassing Wall Street estimates. The company’s stock rose 4.9% in premarket trading following the announcement .
Economic indicators also contributed to the market’s optimism. The U.S. Department of Labor reported that initial jobless claims fell by 10,000 to 236,000 for the week ending June 21, marking a five-week low. However, continuing claims increased by 37,000 to 1.974 million, the highest level since November 2021, suggesting some challenges in the labor market .
Additionally, the U.S. Census Bureau announced that new orders for durable goods surged 16.4% in May, reaching the highest level in 11 years. This increase was largely driven by a 48% rise in transportation equipment orders .
Technology stocks played a significant role in the market’s ascent. Enphase Energy led the S&P 500 with a 12.8% gain amid reports that federal tax credits for residential solar installations may be preserved in upcoming budget legislation. Freeport-McMoRan, a major copper producer, saw its stock rise 6.9% due to increasing copper prices driven by heightened U.S. imports and strong demand from China. Coinbase Global advanced 5.5% after receiving a price target boost from analysts, highlighting the company’s dominance in crypto financial services .
The market’s performance also reflected investor confidence in the Federal Reserve’s monetary policy. Speculation about potential changes in Fed leadership and the possibility of an interest rate cut in July contributed to a decline in Treasury yields and a weakening U.S. dollar. The WSJ Dollar Index fell 1.6% for the week, reaching its lowest level since 2023 .
For the week, all major indexes posted strong gains: the S&P 500 rose 2.9%, the Dow 2.8%, the Nasdaq 3.7%, and the Russell 2000 3%. Year-to-date, the S&P 500 and Nasdaq have both climbed 4.4%, the Dow is up 2%, while the Russell 2000 remains down 2.6% .
The robust market performance underscores investor optimism amid positive corporate earnings and economic data, suggesting resilience in the U.S. economy despite ongoing global uncertainties.
