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Informist, Friday, May 15, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end on strong note; S&P 500, NASDAQ hit new highs

 

MUMBAI--0750 IST--US Indices ended Thursday on a strong note. The S&P 500 and NASDAQ Composite notched fresh record highs for the second consecutive session, and the Dow Jones Industrial Average closed above 50000 for the first time in a little over two months. While technology stocks continued to drive indices higher, market participants were also buoyed by positive signals from the crucial meeting between US President Donald Trump and Chinese President Xi Jinping. 

 

"American enterprises are deeply involved in China's reform and opening up, a process from which both sides have benefited," Bloomberg quoted the Chinese leader as saying, citing China Central Television. "China's door to the outside world will only open wider," Xi said. 

 

Among some key individual movers was Cisco. The company's shares surged after it reported strong earnings for the quarter ended April. Orders linked to artificial intelligence infrastructure from hyperscalers rose to $5.3 billion till April, already surpassing its full-year guidance of $5.0 billion. The company also raised its sales forecast for the full year ending July, and it expects revenue to be between $62.8 billion and $63.0 billion. The company earlier guided for revenue to be in the range of $61.2 billion–$61.7 billion. Shares of Cisco closed over 13% higher.

 

In macroeconomic news, advance estimates of US retail sales rose 0.5% on month to $757.1 billion after a downwardly revised 1.6% jump in March. On a yearly basis, retail sales were up 4.9%. Receipts at gasoline stations increased 2.8% on month after posting a 13.7% surge in March. 

 

"The powerful equity market rally is supporting spending on the upper leg of the K-shaped expansion, more than offsetting any pullback from those on the lower leg who are struggling with higher fuel, transportation and food costs," Sal Guatieri, a senior economist at BMO Capital Markets, told Reuters. 

 

The following were the closing levels of major US indices on Thursday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50063.46	0.75
NASDAQ Composite	26635.22	0.88
S&P 500	7501.24	0.77

 

(Ruchira Kagita)

 

US$1 = INR 95.7625

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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