Shopify (SHOP) stock surged 5.04% in intraday trading on Thursday, outperforming the broader market as investors reacted positively to encouraging U.S. economic data and renewed interest in growth stocks. The e-commerce giant's shares were among the top performers in both the Nasdaq 100 and the Toronto Stock Exchange.

The rally comes on the heels of better-than-expected U.S. retail sales data for June and lower-than-anticipated weekly jobless claims. These economic indicators suggest resilience in the U.S. economy, particularly in consumer spending, which bodes well for e-commerce platforms like Shopify. Angelo Kourkafas, senior global investment strategist at Edward Jones, commented on the market sentiment, stating, "This week's data highlights that theme of resilience - for the consumer, for the economy, the markets - remains intact."

Shopify's strong performance aligns with a broader trend of investors showing renewed interest in growth stocks, particularly in the technology sector. Despite the recent market highs, many growth stocks, including Shopify, have yet to reach their all-time highs, potentially offering attractive entry points for investors looking for long-term growth potential. As the e-commerce sector continues to evolve and integrate new technologies like AI, Shopify's position as a leading platform for online businesses appears to be resonating with investors.