Stocks were higher on Thursday, with the Dow Jones Industrial Average retaking the 50,000 mark following robust earnings from Cisco Systems and positive developments from a key meeting between U.S. and Chinese officials.
The 30-stock Dow surged 370.26 points, or 0.75%, closing at 50,063.46.
The S&P 500 climbed 0.77% to finish at 7,501.24, while the Nasdaq Composite gained 0.88% to 26,635.22.
Both the S&P 500 and Nasdaq hit new all-time intraday highs and recorded record closes.
Shares of Cisco soared 13% after the company reported third-quarter results and guidance that exceeded Wall Street expectations.
Cisco also announced plans to cut nearly 4,000 jobs as part of its ongoing restructuring efforts.
Source (CNBC)
