Nasdaq Closes at Record High

Market's two-day losing streak is broken
By Newser Editors and Wire Services
Posted Nov 16, 2017 3:11 PM CST
Trader Edward Curran works on the floor of the New York Stock Exchange, Thursday, Nov. 16, 2017.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing solidly higher on Wall Street, driven by strong earnings from Walmart Stores, Cisco Systems, and other companies, the AP reports. The gains Thursday broke a two-day losing streak for the market and pushed the Nasdaq composite to another record high, its first in just over a week. Internet gear maker Cisco Systems rose 5.2% after reporting a bigger profit than analysts expected. Cisco said revenue should grow in this quarter after two years of declines. Walmart jumped 10.9% after posting strong sales. The Standard & Poor's 500 index gained 21 points, or 0.8%, to 2,585. The Dow Jones industrial average rose 187 points, or 0.8%, to 23,458. The Nasdaq gained 87 points, or 1.3%, to 6,793. (Read more stock market stories.)

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