Stocks jumped to record highs on Thursday, with investors brushing off the latest Trump-Powell drama to focus on strong earnings and robust economic data.

The Dow Jones index rose Thursday on surprise jobless claims and retail sales. Nvidia chipmaker TSMC rose on earnings.

Stock futures are little changed Thursday as investors digest quarterly results from major companies and await further developments in President Donald Trump's feud with Federal Reserve Chair Jerome Powell.

US Stock market today ended higher as the Dow Jones, S&P 500, and Nasdaq all posted modest gains amid upbeat earnings reports and a surprise jump in retail sales. Investors are cautiously optimistic despite political tension as President Trump continues pressuring Fed Chair Jerome Powell over interest rate cuts.

Trump’s tariffs and trade war continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Investors soured on the sector when Elevance, an insurer, handed in disappointing results and shared a downbeat outlook.

PepsiCo jumped 7.5% after delivering revenue and profit that topped Wall Street's expectations. The drink and snack giant also stood by its financial forecasts given in April, which projected lower full-year profit than previous forecasts due to increased costs from tariffs and a pullback in consumer spending.

This was the stock's second consecutive day of losses.