Stocks closed higher on Thursday, with the Dow Jones Industrial Average reclaiming the 50,000 mark, buoyed by strong earnings from Cisco Systems and optimism surrounding a pivotal U.S.-China summit.
The Dow rose 373 points (0.7%), supported by Cisco’s 15% surge following better than expected quarterly results and guidance, alongside plans to cut nearly 4,000 jobs.
The S&P 500 gained 0.3%, while the Nasdaq edged up 0.1%.
Boeing contributed to the rally, climbing 1% amid growing expectations that the upcoming summit between President Trump and Xi Jinping could foster beneficial trade agreements.
Nvidia also advanced over 2% after Reuters reported that the U.S. authorized approximately ten Chinese firms to purchase its H200 chips, signaling potential future trade developments.
Source (CNBC)
