It feels like every other week we're hearing about a "historic" day on Wall Street, but July 17, 2025, actually earned the title. Honestly, if you blinked, you might have missed the S&P 500 and the Nasdaq hitting fresh all-time highs—again.
The S&P 500 climbed 0.5% to close at 6,297.36. Meanwhile, the Nasdaq Composite, basically the playground for big tech, surged 0.7% to end at 20,884.27. It was the fourth record-breaking finish in a row for the tech-heavy index. Even the Dow Jones wasn't left behind, ticking up 0.5% to 44,484.49.
But why?
It wasn't just "vibes." We saw a perfect storm of retail sales that didn't suck, a labor market that's holding its breath but staying upright, and a few corporate giants like PepsiCo and Netflix showing everyone how it's done.
The Surprise Jump in Shopping
Most experts thought we were cooling off. The Department of Commerce dropped the June retail sales data this morning, and it showed a 0.6% increase. Compare that to the 0.2% the "smartest people in the room" were predicting.
People are still spending.
Whether it's because they've finally adjusted to the higher price of eggs or they're just leaning into summer travel, the consumer isn't backing down yet. This mattered a lot because we've been hearing rumors of a "hard landing" for the economy for months. Seeing those sales numbers basically told the bears to sit down for another day.
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Jobless Claims and the "Just Right" Economy
Initial jobless claims fell more than people expected. It’s that weird Goldilocks zone. If the labor market is too hot, the Fed gets grumpy and keeps rates high. If it's too cold, we're in a recession.
Right now, it's just... okay.
The three-month moving sum of job creation is at its slowest pace since mid-2020, but the weekly claims are suggesting we aren't seeing a mass exodus from the office.
Corporate Winners (and a Few Big Losers)
You can't talk about business news july 17 2025 without mentioning PepsiCo. Their shares jumped 7.5%. They beat expectations on both the top and bottom lines, and surprisingly, international sales did a lot of the heavy lifting. They even nudged their profit forecast for the rest of the year a little higher.
Then there's Netflix.
They reported after the bell, and the numbers were massive. $3.13 billion in net income. They’re basically printing money at this point, thanks to those price hikes we all complained about but paid anyway. Revenue grew nearly 16% year-over-year. Even though the stock dipped a tiny bit in after-hours trading—investors are never satisfied—the underlying business looks like a tank.
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On the flip side, Elevance Health (the folks behind Anthem) had a rough one. Their stock tanked 12.2%. They missed profit estimates and had to lower their outlook because costs for Medicaid and the Affordable Care Act are getting way too high. It dragged the whole healthcare sector down with it.
The Lithium Spark
Something weird happened in the commodities world too. China’s Zangge Mining stopped production in the Qinghai province because of local government orders. Suddenly, everyone got worried about a lithium shortage.
Shares of Albemarle, the world’s biggest lithium miner, shot up 7.6%. It’s a bit of a relief for them since lithium prices have been in the gutter for a while.
The Fed and the Trump Factor
There is a lot of noise coming from D.C. right now. Reports started swirling that there might be a move to replace Federal Reserve Chair Jerome Powell. Trump denied it later, but the "will he or won't he" definitely kept the bond market on its toes.
10-year Treasury yields sat around 4.45%.
The Fed is still in "wait and see" mode. They aren't convinced inflation is dead yet, especially with new tariffs being discussed. Two members of the FOMC actually dissented recently, wanting to cut rates now, but the majority is holding firm.
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What This Means for Your Money
If you’re looking at these record highs and wondering if it’s too late to get in, you're not alone. Here is the reality of business news july 17 2025: the market is being driven by a very small group of massive winners.
AI isn't a bubble yet, but it's definitely the only thing keeping the Nasdaq in the green some days. TSMC reported record profits today, which sent Nvidia and AMD higher. If AI spending slows down, the floor could drop fast.
- Watch the consumer: If retail sales start to dip below 0.2% in the coming months, the "resilient economy" narrative is over.
- Keep an eye on Health Care: The Elevance Health drop isn't an isolated incident. Higher medical costs are a systemic issue right now.
- Don't ignore the Dollar: The U.S. dollar is at a one-month high. That’s great for your European vacation, but it’s a headache for big multinational companies trying to sell stuff abroad.
The biggest takeaway from today is that the market is ignoring the political drama in favor of hard earnings data. As long as companies like Netflix and PepsiCo keep beating expectations, the rally has legs.
Just don't get too comfortable. Records are made to be broken, but they're also a long way to fall.
If you're managing a portfolio right now, it's probably smart to look at the sectors that didn't hit records today. Small caps (the Russell 2000) are finally starting to wake up, rising 1.2% today. There might be more value there than in the overpriced tech giants.
Check your exposure to the "Mag 7" and see if you're actually diversified or just riding a single wave. History shows that when the market gets this top-heavy, the correction usually starts where no one is looking.