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The S&P 500 and Nasdaq posted fresh record closes following stronger-than-expected economic data and impressive earnings from companies such as PepsiCo (NASDAQ:PEP) and United Airlines (NASDAQ:UAL).

• “A reassuring retail sales result comes at the perfect time as earnings season kicks into gear.” Bret Kenwell, investment analyst at Etoro, explained that if earnings continue to impress and data continues to show resilient consumer spending, stocks could react favorably.
• Twenty-seven stocks in the S&P 500 hit new 52-week highs: The gains were diversified, with Citi (NYSE:C) trading at its highest level since 2008 after posting results and Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA) both at all-time highs.

Meta Platforms (NASDAQ:META) has recruited two more key artificial intelligence (AI) researchers from Apple (NASDAQ:AAPL), following the departure of Apple’s large language model chief earlier this month, in a growing sign of a scramble for AI talent.

• Meta to “invest hundreds of billions of dollars into compute to build superintelligence.” Mark Zuckerberg reasserted his mission earlier this week with spending commitments, with both of the new hires from Apple reportedly on compensation packages several multiples higher than before.
• “I’m focused on building the most elite and talent-dense team in the industry.” The aggressive push in recruiting talent comes as tech companies try to stay ahead of each other, with AI developing at such a rapid pace and potentially lucrative profits for those who commercialize it best.

Power stocks are set to benefit from a new set of regulatory relief proposals from President Donald Trump, allowing plants and polluting industries to comply with older, less burdensome standards.

• “Today’s actions provide much needed regulatory relief for the power sector and help...unleash American energy." Lee Zeldin, Environmental Protection Agency administrator, explained how the rollback could help the sector, which includes a range of businesses, from coal-fired power plants to chemical manufacturers that help produce semiconductors.
• Immediate backlash from environmental groups: The Natural Resources Defense Council said the move will simply help big corporations get richer while exposing people to more toxic chemicals.

3M (NYSE:MMM) will announce results before the market opens, with investors keen to see any impact from tariffs on China exposure, as well as any mitigation measures.

• Pushing a growth strategy with the younger generation: American Express (NYSE:AXP) releases second-quarter earnings before the opening bell, with a focus on the trends in consumer spending behaviors and new cardholder additions by segment and age.
• Client activity translating to the bottom line: Charles Schwab (NYSE:SCHW) also reports before the market opens. Metrics such as daily average trades, active account openings, and usage of digital advisory tools will provide insight into client sentiment.

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