<div id="readability-page-1"><div id="ctl00_CPI_dvBody">After trending higher over the past several sessions, stocks showed another significant move to the upside during trading on Thursday. The major averages all posted strong gains, with the Nasdaq and the S&amp;P 500 extending their winning streaks to six days.The major averages pulled back off their best levels going into the close but remained sharply higher. The Nasdaq soared 401.89 points or 2.3 percent to 17,594.50, the S&amp;P 500 surged 88.01 points or 1.6 percent to 5,543.22 and the Dow jumped 554.67 points or 1.4 percent to 40,563.06.The rally on Wall Street came as the Commerce Department released a report showing much stronger than expected retail sales growth in July, easing concerns about the economic outlook.The Commerce Department said retail sales jumped by 1.0 percent in July after edging down by a revised 0.2 percent in June.Economists had expected retail sales to rise by 0.3 percent compared to the unchanged reading originally reported for the previous month.Excluding a surge in sales by motor vehicle and parts dealers, retail sales still rose by 0.4 percent in July after climbing by 0.8 percent in June. Ex-auto sales were expected to inch up by 0.1 percent.Shares of Walmart (WMT) also moved sharply higher after the retail giant reported fiscal second quarter results that exceeded analyst estimates and raised its full-year guidance.Positive sentiment was also generated in reaction to a Labor Department report showing an unexpected decline by first-time claims for U.S. unemployment benefits in the week ended August 10th.The Labor Department said initial jobless claims fell to 227,000, a decrease of 7,000 from the previous week's revised level of 234,000.Economists had expected jobless claims to inch up to 235,000 from the 233,000 originally reported for the previous week.&#34;If the economy continues to be resilient - especially in conjunction with slowing inflation - then the Fed can begin a rate cutting cycle without the economy entering recession and history shows this is an extremely positive environment for the stock market,&#34; said Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance.Meanwhile, traders largely shrugged off a report from the Federal Reserve showing industrial production in the U.S. fell by much more than expected in the month of July.The report said industrial production decreased by 0.6 percent in July after rising by a downwardly revised 0.3 percent in June.Economists had expected industrial production to dip by 0.3 percent compared to the 0.6 percent increase originally reported for the previous month.Sector NewsSemiconductor stocks saw substantial strength on the day, resulting in a 4.9 percent spike by the Philadelphia Semiconductor Index.Significant strength was also visible among airline stocks, with the NYSE Arca Airline Index soaring by 4.4 percent.Networking stocks also moved sharply higher, as reflected by the 3.5 percent surge by the NYSE Arca Networking Index.Cisco Systems (CSCO) led the sector higher after reporting better than expected fiscal fourth quarter results and announcing plans to lay off 7 percent of its workforce.Computer hardware, retail and oil service stocks also saw considerable strength amid broad based buying interest on Wall Street.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index climbed by 0.8 percent, while China's Shanghai Composite Index advanced by 0.9 percent.The major European markets also moved to the upside on the day. While the German DAX Index surged by 1.7 percent, the French CAC 40 Index jumped by 1.2 percent and the U.K.'s FTSE 100 Index increased by 0.8 percent.In the bond market, treasuries pulled back sharply after moving notably higher over the past several sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, shot up by 10.6 basis points to 3.926 percent.Looking AheadThe University of Michigan's preliminary report on consumer sentiment in August may attract attention on Friday, as it includes reading on consumers' inflation expectations. For comments and feedback contact: editorial@rttnews.comBusiness News</div></div>

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The stock market experienced a significant rally on Thursday, fueled by stronger-than-expected retail sales data for July, which rose by 1.0%. The Nasdaq, S&P 500, and Dow all posted strong gains, extending their winning streaks. Walmart shares surged after reporting better-than-expected earnings. Investors were also encouraged by a decrease in initial jobless claims. Despite a decline in industrial production, positive market sentiment prevailed with substantial gains in semiconductor and airline stocks. Global markets showed upward movement, and attention turns to consumer sentiment reports due on Friday.

- Stocks surged on Thursday, with the Nasdaq and S&P 500 extending winning streaks. The rally was fueled by stronger than expected retail sales growth in July, easing economic concerns.
- Walmart's positive earnings report and a decline in first-time jobless claims also boosted market sentiment. Analysts suggest a potential rate cutting cycle by the Fed amidst a resilient economy.
- Despite a decline in industrial production, semiconductor and airline stocks saw significant gains, reflecting broad-based buying interest. Global markets also showed positive movements.

Upbeat Retail Sales Data Contributes To Rally On Wall Street