Stocks rose on Thursday as investors weigh strong earnings from Walmart and Cisco Systems against lingering trade-war fears.
The Dow Jones Industrial Average traded 254 points higher as Walmart and Cisco outperformed. The S&P 500 gained 1.2% while the Nasdaq Composite advanced 1.4%. Both the S&P 500 and Nasdaq also erased their losses for the week.
Walmart shares rose 3.5% after the retailer posted first-quarter earnings that topped analyst expectations. The company also said it is in a “good position ” to meet its goals for 2019 despite tough comparisons for the second quarter.
Cisco Systems also reported better-than-expected quarterly earnings, sending its stock up 5.4%. The company also issued stronger-than-forecast revenue guidance.