The major averages had another great day thanks to strong earnings and encouraging economic data. The Dow Jones Industrial Average gained over 200 points. The S&P 500 rose 34 points or 0.5% while the Nasdaq Composite rose over 150 points or 0.8%.

On the earnings front, Pepsi was a diamond up 7%. United Airlines rose 6% after the airline beat earnings estimates. GE Aerospace was higher on earnings. Travelers jumped 3% on earnings.

Quarterly earnings reports released this week have exceeded Wall Street’s expectations, fueling investor confidence. Around 50 S&P 500 components have reported thus far, with 88% of those exceeding analysts’ expectations, FactSet data shows.

The Labor Department reported Thursday that jobless claims for the week ending July 12 came out at 221,000, marking a decrease of 7,000 from the previous week. Interest rates were quiet with the 10 year at 4.45%.

In the commodity space, oil was up 2%. Gold and bitcoin were quiet.

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