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US Equity Markets End Higher Led by Gains in Tech Stocks

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US equity indexes ended higher on Thursday as technology stocks led major gains in the Nasdaq and the S&P 500, pushing them toward new all-time highs.

* Among the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, eight were from the technology sector. In the S&P 500 and Nasdaq, Cisco Systems (CSCO) was the top outperformer.

* Retail sales in April rose for the third straight month, up 0.5% following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg.

* June West Texas Intermediate crude oil rose $0.81 to settle at $101.83 per barrel, while July Brent crude, the global benchmark, was last seen up $0.74 at $106.37.

* Cisco (CSCO) shares were up roughly 13% after the company reported a year-over-year rise in fiscal Q3 earnings and revenue, beating market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.

* Biogen (BIIB) shares were down 6.4% after the company said a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.

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RICS: UK House Price Balance Falls in April

The UK Royal Institution of Chartered Surveyors house price balance stood at -34% in April, down from the revised -25% in the previous month, according to residential market survey data released Thursday.The latest reading missed the consensus estimate of -25% and was the weakest since November 2023.For the next three months, house price expectations improved to -38% from -45%, suggesting a potential ease in downward pressure on prices.

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Australia Household Spending Falls in April, CommBank Says

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India Bans Export of Sugar Amid Concern Over Domestic Supply

India has banned the export of sugar with immediate effect on Wednesday till Sept. 30, in a bid to protect domestic supply and rise in sugar prices locally.According to an order issued by the Directorate General of Foreign Trade under the Ministry of Commerce and Industry on Wednesday, the ban applies to raw, white, and refined sugar, as it moved the items from "restricted" to "prohibited" in the exports list.It said shipments will be allowed if loading had started before May 13 or if consignments had already been handed over to customs authorities before the order took effect."The export of sugar shall be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments," the order said.However, the ban will not apply to sugar exports to the European Union and the US under existing tariff-rate quota and arrangements, the statement said.

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