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Nasdaq Composite Falls to 5-Week Low Amid Tech Pullback
US Markets

Nasdaq Composite Falls to 5-Week Low Amid Tech Pullback

US equities fell Tuesday, with technology stocks pulling back following a jump in the previous session, sending the Nasdaq Composite to its lowest close in five weeks.The tech-heavy index shed 1% to 25,678.8, its lowest finish since May 5. The S&P 500 fell 0.3% to 7,386.7, while the Dow Jones Industrial Average rose 0.2% to 50,872.1 after a two-day decline.Barring tech and energy, all sectors were in the green, led by real estate.Salesforce (CRM) shares fell 3.9%, the worst performer on the Dow. The cloud-based customer relationship management platform provider implemented a fresh round of job cuts, Business Insider reported Tuesday.Apple (AAPL) dropped 3.6% and followed Salesforce on the Dow, while Cisco Systems (CSCO) declined 3.1%, the third worst performer on the index.Super Micro Computer (SMCI) slumped 7.6%, among the steepest declines on the S&P 500. Also under pressure were major tech names such as Microsoft (MSFT), IBM (IBM), Qualcomm (QCOM) and Dell Technologies (DELL).Outside tech, J.M. Smucker (SJM) reported better-than-expected fiscal fourth-quarter results, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint. The stock jumped 10%, the best performer on the S&P 500.Boeing (BA) fell behind European rival Airbus in both aircraft deliveries and orders for May, even as the US planemaker's deliveries rose sequentially and annually. The stock fell 0.7%.US President Donald Trump said Tuesday that Iran shot down an American military helicopter over the Strait of Hormuz on Monday night. He said the two pilots were unharmed, but the US must "respond to this attack."Trump told reporters in New York on Monday that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The crucial Strait of Hormuz, which remains effective shut, would reopen "immediately" after the deal, Trump reportedly said.Trump has made similar claims on a number of occasions in the past.West Texas Intermediate crude oil was down 3.1% at $88.46 a barrel in Tuesday late-afternoon trade, while Brent fell 2.7% to $91.72.The global crude market has already lost 1 billion barrels of supply since the Iran war began at the end of February, Rystad Energy said in a note."Cumulative losses have now reached 1 billion barrels and are on track to nearly double by year-end under our base case, which still assumes a narrow US-Iran deal in June and a phased reopening of the Strait of Hormuz from mid-July," Aditya Saraswat, Middle East and North Africa research director at Rystad, said in a note.US Treasury yields were lower, with the 10-year rate last down four basis points at 4.53%, and the two-year rate falling 3.1 basis points to 4.14%.In economic news, US existing home sales increased to the highest level since December in May, a move that is expected to bode well for the economy, the National Association of Realtors said Tuesday.The US trade deficit narrowed in April as export growth outpaced an increase in imports, government data showed Tuesday.Gold was down 1.9% at $4,282.40 per troy ounce, while silver shed 4.7% to $65.39 per ounce.

Nasdaq CompositeS&P 500$AAPL$CRM$CSCO$DELL$DJI$IBM$MSFT$QCOM$SJM$SMCI
Equities Markets Fall Intraday Amid Tech Sell-Off
US Markets

Equities Markets Fall Intraday Amid Tech Sell-Off

Wall Street's benchmark equity indexes fell intraday amid a sharp sell-off in technology stocks, as President Donald Trump vowed to "respond" to an Iranian attack on a US military helicopter over the Strait of Hormuz.The Nasdaq was down 2% at 25,425.1 after midday Tuesday, while the S&P 500 lost 1.1% to 7,328.9. The Dow Jones Industrial Average declined 0.2% to 50,678.7. Among sectors, tech saw the steepest drop, shedding 3.5%, while real estate paced the gainers.Salesforce (CRM) shares were down 4.7% intraday, the worst performer on the Dow. The cloud-based customer relationship management platform provider implemented a fresh round of job cuts, Business Insider reported Tuesday, citing people familiar with the matter and a regulatory notice.Cisco Systems (CSCO) dropped 4.3% and followed Salesforce on the Dow. Nvidia (NVDA) fell 2.1%. Super Micro Computer (SMCI) slid 10%, among the steepest declines on the S&P 500.Also under pressure were other major tech names such as Apple (AAPL), Microsoft (MSFT), IBM (IBM), Qualcomm (QCOM), Dell Technologies (DELL), and Advanced Micro Devices (AMD).Outside tech, J.M. Smucker (SJM) reported better-than-expected fiscal fourth-quarter results, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint. The stock was up 9.7% intraday, the best performer on the S&P 500.Trump said Tuesday that Iran shot down a US Apache helicopter over the Strait of Hormuz on Monday night. He said the two pilots were unharmed.The US must "respond to this attack," he said in a social media post.Trump told reporters in New York on Monday that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The crucial Strait of Hormuz, which remains effective shut, would reopen "immediately" after the deal, Trump reportedly said.Trump has made similar claims on a number of occasions in the past.West Texas Intermediate crude oil was down 3.7% at $87.94 a barrel intraday, while Brent fell 3% to $91.43."The continued lack of progress towards restoring normal energy flows from the Middle East reinforces expectations of a prolonged period of elevated oil prices," Saxo Bank said in a report on Tuesday.US Treasury yields were lower intraday, with the 10-year rate down 3.4 basis points at 4.53%, and the two-year rate falling 3.3 basis points to 4.13%.In economic news, US existing home sales increased to the highest level since December in May, a move that is expected to bode well for the economy, the National Association of Realtors said Tuesday.The US trade deficit narrowed in April as export growth outpaced an increase in imports, government data showed Tuesday.Gold was down 1.7% at $4,290.10 per troy ounce, while silver shed 4.6% to $65.38 per ounce.

Nasdaq CompositeS&P 500$AAPL$CRM$CSCO$DELL$DJI$IBM$MSFT$NVDA$QCOM$SJM$SMCI
Tech-Heavy Nasdaq Snaps 3-Day Losing Streak
US Markets

Tech-Heavy Nasdaq Snaps 3-Day Losing Streak

The Nasdaq Composite rose Monday following a three-day slump, buoyed by the technology sector's rebound.The tech-heavy Nasdaq Composite rose 0.9% to 25,929.7, while the S&P 500 added 0.3% to 7,405.5. The Dow Jones Industrial Average lost 0.2% to 50,786.01, closing lower for a second consecutive session. Most sectors were in the red, led by utilities, while tech paced the gainers with a 1.5% rise.Chipmaker Intel (INTC) climbed 11%, the top performer on the S&P 500, followed by Micron Technology (MU), which jumped 9.9%. Cisco Systems (CSCO) rose 2.1%, the best performer on the Dow. Nvidia gained 1.7%.The tech sector shed 5.8% on Friday."In our view, volatility in technology stocks is likely to continue, although the (artificial intelligence) investment boom appears robust," D.A. Davidson said in a report on Monday. "We continue to expect a broadening of gains supporting sector diversification in portfolios."Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported, citing unnamed sources.Taiwan Semiconductor shares were up 2.8%.West Texas Intermediate crude oil was up 0.8% at $91.22 a barrel in Monday late-afternoon trade, while Brent rose 1.2% to $94.22, but both benchmarks were off session highs.Iran and Israel suspended strikes against each other. However, Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to a CNBC report.Israel and Iran were looking for an "immediate" ceasefire, US President Donald Trump said Monday."Overall, the situation remains fragile, and for the oil market, the status quo holds: global inventories continue to draw, with analysts increasingly convinced that inventories will reach dangerously low levels by the end of June (if not sooner)," Tudor Pickering Holt Analyst Matt Portillo said in a note.US Treasury yields were higher, with the 10-year rate last up four basis points at 4.56%, and the two-year rate rising 1.9 basis points to 4.17%.In economic news, US consumers' short-term inflation expectations decreased in May, while the labor market outlook "deteriorated somewhat," a survey by the Federal Reserve Bank of New York showed Monday.Gold was down 0.2% at $4,358.50 per troy ounce, while silver dropped 0.9% to $68.50 per ounce.

Dow JonesNasdaq CompositeS&P 500$CSCO$GOOG$GOOGL$INTC$MU$NVDA$TSM
Equities Mostly Rise Intraday as Tech Jumps, Markets Monitor Middle East Developments
US Markets

Equities Mostly Rise Intraday as Tech Jumps, Markets Monitor Middle East Developments

US benchmark equity indexes were mostly higher intraday as the technology sector jumped, while Iran reportedly suspended military operation against Israel.The tech-heavy Nasdaq Composite was up 1.1% at 25,987.8 after midday Monday, while the S&P 500 rose 0.5% to 7,419.6. The Dow Jones Industrial Average lost 0.1% to 50,812.9. Friday's sell-off saw the Nasdaq post its biggest one-day decline since April 2025, while the Dow pulled back from a record high.Among sectors, tech paced the gainers intraday Monday, advancing by 2%, while utilities saw the biggest drop.Shares of certain chipmakers were notable gainers, with Intel (INTC) up nearly 11%, the top performer on the S&P 500. Micron Technology (MU) followed Intel on the index, rising 9.4%.Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported, citing unnamed sources.Taiwan Semiconductor shares were up 3%.Cisco Systems (CSCO) rose 3%, the best performer on the Dow, followed by Nvidia's 1.8% gain.West Texas Intermediate crude oil was up 0.5% at $90.95 a barrel intraday, while Brent rose 1.2% to $94.23, but both benchmarks were off session highs.Iran has suspended strikes against Israel, the former's Ministry of Foreign Affairs told CNBC Monday. The two countries traded strikes on Sunday night, according to reports."Iran's restraint is a positive for diplomacy," Tudor Pickering Holt said in a note.However, Iran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to the CNBC report.Israel and Iran were looking for "an immediate ceasefire," US President Donald Trump said Monday."Final negotiations on 'peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump said in a social media post. "The blockade (against Iran) will remain in place, and in full force and effect, until a 'final deal' is reached. Things should move quickly.""Despite repeated optimism from the US administration, a lasting peace agreement appears increasingly elusive," Saxo Bank said in a report. "The near-closure of the Strait of Hormuz continues to tighten global energy markets, with several oil majors warning that the window before physical shortages begin to emerge may be measured in weeks rather than months."US Treasury yields were mixed intraday, with the 10-year rate up 1.2 basis points at 4.55%, and the two-year rate falling one basis point to 4.16%.Ciena (CIEN) shares were down 5%, the steepest decline on the S&P 500, as the company said it planned a private offering of $2 billion of convertible senior notes due 2031.Oracle (ORCL) and Adobe (ADBE) are scheduled to report their latest financial results later this week, along with others.Gold was down 0.2% at $4,358.50 per troy ounce, while silver dropped 0.9% to $68.50 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$CIEN$CSCO$GOOG$GOOGL$INTC$MU$NVDA$ORCL$TSM
Wire

Cisco, IBM to Support UK Government Push to Provide AI Training for Workers

Cisco Systems (CSCO) and IBM (IBM) are among the companies chosen by the UK government to train workers in AI skills as part of a 200 million pound ($267 million) national investment to speed adoption of the technology.The initiative will support programs that help businesses test and scale AI, the UK Department for Science, Innovation & Technology said Monday in a statement.Cisco signed a memorandum of understanding with the department to support government programs aimed at building digital and AI skills, while IBM is expanding its SkillsBuild program with new and free AI learning courses, according to the statement.As part of the initiative, the UK government also signed a joint statement with Alphabet's (GOOG, GOOGL) Google, Microsoft (MSFT), Anthropic, and OpenAI to collaborate with frontier AI labs to support "evidence-based policymaking and responsible AI development," the department said.Price: $125.29, Change: $+3.65, Percent Change: +3.00%

$CSCO$GOOG$GOOGL$IBM$MSFT
Nasdaq Suffers Worst Day in More Than a Year; S&P 500 Snaps Winning Weekly Streak
US Markets

Nasdaq Suffers Worst Day in More Than a Year; S&P 500 Snaps Winning Weekly Streak

The Nasdaq Composite logged its biggest one-day decline since April 2025 as traders evaluated the official jobs report, while the S&P 500 snapped its winning weekly streak.The technology-heavy Nasdaq plunged 4.2% to 25,709.4 on Friday, the most since April 2025, according to CNBC. The S&P 500 shed 2.6% to 7,383.7, while the Dow Jones Industrial Average lost 1.4% to 50,866.8, after it closed at a record high in the previous session.Tech saw the steepest drop among sectors, shedding 5.8%, while consumer staples paced the gainers.All three major Wall Street indexes posted weekly losses, with the Nasdaq sliding 4.7% and the Dow slipping 0.3%. The S&P 500 is down 2.6% on the week, after nine straight weekly gains.Cisco Systems (CSCO) declined 6.4% on Friday, the worst performer on the Dow. Nvidia (NVDA) and IBM (IBM) followed Cisco on the index, down 6.2% and 5.6%, respectively.Qualcomm (QCOM), Advanced Micro Devices (AMD), Super Micro Computer (SMCI), and Micron Technology all tumbled more than 10% each, with Micron the worst performer on the S&P 500. Oracle (ORCL), Salesforce (CRM) and Microsoft (MSFT) also closed lower.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher, with the 10-year rate last up 6.6 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, but the odds of monetary policy tightening later this year have seemingly increased."Despite the lack of consistent messaging in the labor market data, we now have a rate hike fully priced at the December (Federal Open Market Committee) meeting," James Knightley, chief international economist at ING, said in a note. "That is understandable given the Fed's hawkish pivot and the hot inflation prints of recent months."West Texas Intermediate crude oil was down 2.9% at $90.38 a barrel in Friday late-afternoon trade, while Brent fell 2% to $93.11.Major oil-producing nations belonging to the OPEC+ cartel are expected to agree to continue raising output when they meet on Sunday to decide on July's production quota, analysts told.The cartel is seen lifting July's production quota by another 188,000 barrels per day, DBS Bank's Suvro Sarkar said.Gold was last down 3.7% at $4,338.30 per troy ounce, while silver dropped 8.4% to $67.79 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI
Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off
US Markets

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

US benchmark equity indexes were lower intraday amid a technology sector-led sell-off, while Treasury yields jumped as markets parsed the latest official jobs report.The Nasdaq Composite was down 3.2% at 25,950.7 after midday Friday, while the S&P 500 fell 2% to 7,434.3. The Dow Jones Industrial Average shed 0.9% to 51,109, after closing at a record high in the previous session.Tech saw the steepest drop among sectors intraday Friday, down 4.7%, while consumer staples paced the gainers.IBM (IBM) shares dropped 6%, the worst performer on the Dow. Cisco Systems (CSCO) and Nvidia (NVDA) followed IBM on the index, down 5.8% and 5.6%, respectively. Several other big tech names also fell. These included Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), Qualcomm (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI), which tumbled 11% -- the second-worst performer on the S&P 500.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher intraday, with the 10-year rate up 7.1 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."Most (Federal Open Market Committee) participants have said they would prefer to remove the easing bias in the FOMC statement on account of rising inflation risk, and this (jobs) report should reinforce that shift," Morgan Stanley said in a note. "We read this employment report as indicating the Fed can and will remove its easing bias in June."West Texas Intermediate crude oil was down 3.2% at $90.03 a barrel intraday, while Brent fell 2.3% to $92.82.A potential US-Iran peace deal hinges on the Trump administration agreeing to release $24 billion in frozen Iranian assets, CNN reported Friday, citing Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei."The negotiations are at a deadlock, and (US President Donald) Trump must break this deadlock," Rezaei reportedly said. "The ball is in Trump's court."In company news, FedEx Freight (FDXF) shares jumped 7.8% intraday, the best performer on the S&P 500, as Stifel initiated the stock at hold, with a $160 price target.Gold was down 3.1% at $4,367 per troy ounce, while silver dropped 6.5% to $69.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI
Wire

LiveOne Expands Car Entertainment Platform Collaboration With AT&T

LiveOne (LVO) said Wednesday it is launching an expanded collaboration with AT&T (T) and Cisco (CSCO) to provide in-vehicle entertainment services in AT&T's Connected Car platform.The project will allow automotive original equipment manufacturers to install entertainment services using AT&T's Connected Car platform and Cisco's billing technology, and LiveOne will provide music and live audio content, the company said.LiveOne said its services will be available as a bundled entertainment option in some vehicles equipped with AT&T Connected Car services.Financial details were not provided.Price: $6.58, Change: $-0.13, Percent Change: -1.87%

$CSCO$LVO$T
Insider Trading

Cisco Systems Insider Sold Shares Worth $2,568,584, According to a Recent SEC Filing

Charles Robbins, Director, Chair and CEO, on May 22, 2026, sold 21,400 shares in Cisco Systems (CSCO) for $2,568,584. Following the Form 4 filing with the SEC, Robbins has control over a total of 637,085 common shares of the company, with 637,085 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/858877/000085887726000092/xslF345X05/wk-form4_1779915031.xml

$CSCO
Wire

Argus Raises Cisco Systems Price Target to $150 From $100

Cisco Systems (CSCO) has an average rating of overweight and mean price target of $126.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $117.61, Change: $-0.60, Percent Change: -0.51%

$CSCO
Equities

S&P 500 Ekes Out Seventh Consecutive Weekly Gain as Energy Leads

The Standard & Poor's 500 index edged up 0.1% this week, its seventh consecutive weekly gain, as a strong advance in energy stocks helped outweigh declines in other sectors.The S&P 500 ended the week at 7,408.50, up slightly on the week but down from the new closing high it reached Thursday at 7,501.24. The market benchmark also hit a new intraday high on Thursday at 7,517.12.The seven-week win streak is the index's longest since a nine-week run that ended in December 2023. The S&P 500 is now up 2.8% for the month and has climbed 8.2% in 2026.The week's advance was driven by gains in only four of the S&P 500's 11 sectors, led by energy amid surging oil prices on the back of renewed Middle East worries. Consumer staples, technology and health care also rose this week.Declines across the remaining seven sectors came amid inflation concerns.US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz, data released this week showed. Another report showed US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures.The energy sector jumped 6.8%, followed by gains of at least 1% each in consumer staples, technology and health care.Occidental Petroleum (OXY) and Targa Resources (TRGP) had the largest percentage gains in the energy sector for the week, rising 12% and 9.6%, respectively.The climb in consumer staples was led by shares of tobacco companies Philip Morris International (PM) and Altria Group (MO), which added 11% and 7.3%, respectively.The technology sector's gain came amid enthusiasm for artificial intelligence as Cisco Systems (CSCO) reported higher-than-expected quarterly results, boosted by strong demand for its AI infrastructure. Cisco's shares jumped 22% as the company reported fiscal Q3 earnings and sales above market expectations and raised its full-year guidance.On the downside, consumer discretionary fell 3.1%, followed by a 2.6% drop in real estate, a 2.3% loss in materials, and a 2.1% decline in utilities. Industrials fell 1.1% while communication services and financials also edged lower.Norwegian Cruise Line Holdings (NCLH) was among the hardest-hit stocks in consumer discretionary. The cruise operator's shares fell 9.1% as TD Cowen cut its price target on the stock to $22 each from $27. The firm kept its investment rating on the shares at buy.Next week, a number of retailers will report quarterly earnings, including Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW), TJX (TJX), and BJ's Wholesale Club (BJ). Other companies on the week's earnings calendar include NVIDIA (NVDA), Analog Devices (ADI), Intuit (INTU) and Deere (DE).Economic data will include April pending home sales, housing starts and building permits, as well as a final reading on May consumer sentiment.

Dow JonesNasdaq CompositeS&P 500$CSCO$MO$NCLH$OXY$PM$TRGP
Research

HSBC Upgrades Cisco Systems to Buy From Hold, Adjusts Price Target to $137 From $77

Cisco Systems (CSCO) has an average rating of overweight and mean price target of $126.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CSCO
Tech Gains Lift Nasdaq, S&P 500 to New Highs
US Markets

Tech Gains Lift Nasdaq, S&P 500 to New Highs

The Nasdaq Composite and the S&P 500 hit new peaks on Thursday, buoyed again by gains in the technology sector.The Nasdaq rose 0.9% to 26,635.2, while the S&P 500 climbed 0.8% to 7,501.4 -- both logging record closing highs for the second straight day. The Dow Jones Industrial Average added 0.8% to settle at 50,063.5.Six of the 11 sectors were in the green, led by tech's 1.9% jump, while materials saw the biggest drop. The tech sector rallied yesterday too, ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.Cisco Systems (CSCO) shares rallied 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involved thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow, up 4.4%. IBM (IBM), Salesforce (CRM) and Microsoft (MSFT) also closed higher.About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources."Despite this approval, however, H200s still have not made their way to China given the apparent reluctance of Beijing to support Chinese firms' purchase of American made accelerators," Wedbush Securities analyst Matt Bryson said in a report. "We view this week's talks between the US and China as a chance to possibly shift this dynamic."Trump arrived in China on Wednesday, along with Nvidia Chief Executive Jensen Huang and other executives of major American companies. China's Xi told Huang and CEOs of companies including Apple (AAPL) and Tesla (TSLA) that China will "open wider" to doing business, news outlets reported.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares declined 4.7%, the biggest drop on the Dow.US Treasury yields were higher in Thursday late-afternoon trade, with the 10-year rate up 1.4 basis points at 4.48% and the two-year rate rising 2.1 basis points to 4.01%.West Texas Intermediate crude was last up 1% at $102.07 a barrel, while Brent rose 0.9% to $106.55.Xi and Trump agreed that the crucial Strait of Hormuz should remain open, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."In other company news, Cerebras Systems (CBRS) surged 68% in its public market debut on Thursday, after the artificial intelligence chipmaker priced its initial public offering at well above the top end of the projected range.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated.Inflation has become the "most pressing risk" to the US economy, Kansas City Fed President Jeff Schmid said Thursday."While inflation has moderated significantly from its peak, in my discussions with business leaders across the Tenth District, it is clear that it is still too high," Schmid said in prepared remarks for a conference.Gold was last down 1.1% at $4,654.70 per troy ounce, while silver tumbled 6.2% to $83.84 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$CBRS$CSCO$NVDA$TSLA
Asia Markets

S&P 500, Nasdaq Composite Break Records as Technology Boosts Risk Sentiment

US equity indexes rose as sector-topping technology shares pushed the S&P 500 and the Nasdaq to new peaks on Thursday, while China agreed that Iran should not control the Strait of Hormuz, the chokepoint to about a fifth of global crude oil flows.The Dow Jones Industrial Average climbed 0.8% to 50,063.46, trading close to its all-time high of 50,512.79. The Nasdaq advanced 0.9% to 26,635.22 after hitting a new high of 26,707.14 earlier in the session. The S&P 500 was up 0.8% to 7,501.24, after making a new record of 7,517.12.Technology was the standout gainer, up 1.9% at the close. Materials and real estate led the decliners.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, nine were from the technology sector, according to data compiled by Finviz. The top performer in this category was Cisco Systems (CSCO), up 13%, followed by chipmakers Broadcom (AVGO) and Nvidia (NVDA).Cisco, also the leader on the S&P 500, the Nasdaq, and the Dow, overnight reported fiscal Q3 earnings and revenue that topped market expectations and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Meanwhile, about 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources. Shares of the semiconductor manufacturer jumped 4.4%, the second-biggest gainer on the Dow.Cerebras Systems (CBRS) soared 68% in its debut after the artificial intelligence chipmaker priced its initial public offering of 30 million shares at $185 apiece, higher than the prior upgraded range of $150 to $160 set by the company late Wednesday.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported, matching the consensus in a survey compiled by Bloomberg."Despite elevated prices at the pump and elsewhere, consumers continue to prove resilient thanks to decent wage gains, savings, and credit cards to support spending," Lindsey Piegza, chief economist at Stifel, said in a note. "That being said, consumers cannot perpetually withstand elevated costs."Business inventories rose 0.9% in March, as expected in a survey compiled by Bloomberg and following a 0.4% increase in the previous month.US Treasury yields were mixed, with the 10-year steady at 4.49%. The two-year rate rose 2.3 basis points to 4.01%.West Texas Intermediate crude oil futures rose 1% to $101.99, and Brent crude futures climbed 0.9% to $106.61.Chinese President Xi Jinping has pledged not to provide military equipment to Iran, CNN reported, citing President Donald Trump. Xi, however, warned the US that a mishandling of Taiwan could plunge bilateral relations to a "dangerous place," according to reports from CNN and Reuters.The two leaders agreed that the crucial Strait of Hormuz should remain a free waterway and Iran shouldn't be able to exact payments for the use of shipping lanes, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks.In precious metals, gold futures declined 1.1% to $4,654.3, and silver futures slumped 6.2% to $83.81.

Dow JonesNasdaq CompositeS&P 500$AVGO$CBRS$CSCO$NVDA
International

US Equity Markets End Higher Led by Gains in Tech Stocks

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.

Dow JonesNasdaq CompositeS&P 500$BIIB$CSCO
Japan

US Equity Indexes March Higher as Technology Tops Sector Charts

US equity indexes rose ahead of Thursday's close, as strong gains in technology helped the S&P 500 and the Nasdaq hit fresh all-time highs.The Dow climbed 0.7% to 50,080.2, with the Nasdaq up 1% to 26,672.5 and the S&P 500 higher by 0.8% to 7,505.5. Technology and energy led the gainers, while materials and real estate were among the decliners.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, nine were from the technology sector, according to data compiled by Finviz. The top performer in this category was Cisco Systems (CSCO), up 12% in the final leg of trading.Cisco, also the leader on the S&P 500, the Nasdaq, and the Dow, overnight reported fiscal Q3 earnings and revenue that topped market expectations and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Meanwhile, about 10 Chinese companies have secured US clearance to purchase Nvidia's (NVDA) H200 AI chip, Reuters reported, citing unnamed sources. Shares of the semiconductor manufacturer jumped 4.5%, among the top gainers on the Dow.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported, matching the consensus in a survey compiled by Bloomberg."Despite elevated prices at the pump and elsewhere, consumers continue to prove resilient thanks to decent wage gains, savings, and credit cards to support spending," Lindsey Piegza, chief economist at Stifel, said in a note. "That being said, consumers cannot perpetually withstand elevated costs."

Dow JonesNasdaq CompositeS&P 500$CSCO$NVDA
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Nvidia (NVDA) shares climbed 4%. About 10 Chinese firms have secured US clearance to buy Nvidia's H200 AI chip, Reuters reported, citing unnamed sources. Nvidia Chief Executive Jensen Huang is accompanying President Donald Trump in his China trip, along with executives of several other major US tech companies.Cerebras Systems (CBRS) stock was up more than 72% in late trading following its Nasdaq debut.Cisco (CSCO) shares jumped 13% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were fractionally lower, and Microsoft was up 1%.

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Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Cisco Systems Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $40 to $125, based on 26.5x our FY 27 (Jul.) EPS estimate, a premium to its one-year forward average P/E of 18.0x, reflecting recent strong results. We increase our FY 26 EPS estimate by $0.16 to $4.28 and FY 27's by $0.28 to $4.71. Networking product orders accelerated, with more than 50% growth, due to considerable gains in areas such as service provider routing, compute, data center switching, campus switching, wireless, enterprise routing, and industrial IoT products. The AI infrastructure business showed substantial order growth, particularly from hyperscalers, with YTD totals already exceeding previous expectations and a revised outlook for further increases. CSCO secured five new design wins with hyperscalers in the third quarter, including wins for both optics and systems, marking expansion in its AI infrastructure offerings.

$CSCO
Wire

Cisco Systems' AI Momentum, Hyperscaler Spending Strength to Drive Growth Into 2027, UBS Says

Cisco Systems (CSCO) is positioned for continued growth into fiscal 2027 as rising hyperscaler artificial intelligence spending, stronger campus demand and improving traction in security support expanding revenue and earnings, UBS said in a note emailed Thursday.The brokerage said Cisco's AI systems and optical products should continue benefiting from broad-based increases in data center and AI infrastructure spending.The company's operational strength has helped it navigate ongoing supply-chain and component cost pressures better than peers, the brokerage said.UBS raised its price target on Cisco to $132 from $95 and reiterated its buy rating.Price: $114.99, Change: $+13.12, Percent Change: +12.88%

$CSCO
Wire

Top Midday Gainers

Cisco (CSCO) overnight reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. It also announced restructuring plans that included lay-offs of nearly 4,000 employees.Shares advanced 12%, with intraday trading volume rising to over 54.4 million from a daily average of about 21.7 million.POET Technologies (POET) and Lumilens unveiled a partnership on Thursday to develop a new class of wafer-level photonic integration for artificial intelligence infrastructure.As part of a supply agreement, Lumilens placed an initial purchase order with POET for Electrical-Optical Interposer-based engines valued at $50 million. Orders may increase to more than $500 million over five years.Shares surged 39% as intraday trading volume soared to over 95.9 million from a daily average of roughly 27.1 million.STAAR Surgical (STAA) reported surprise Q1 earnings late Wednesday as sales more than doubled from a year ago, beating expectations.Shares jumped 11% as intraday trading volume rose to over 2.75 million from a daily average of about 1.27 million.Price: $114.79, Change: $+12.92, Percent Change: +12.68%

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