Stocks rose Thursday as the tech sector and optimism from the U.S.-China summit lifted sentiment. The Nasdaq and S&P 500 both finished with healthy gains and fresh intraday records, while a blowout report from Cisco Systems (CSCO) pushed the Dow back above 50,000. A boost also came from Boeing (BA), after President Donald Trump said China will order 200 jets.
Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) notched its third-straight loss. Investors also noted retail sales data that came in-line with estimates and a higher-than-expected weekly jobless claims reading.
Continue reading for more on today's market, including:
- Summer stock pick for your portfolio.
- Nvidia earnings among the major key events coming up.
- Plus, STUB's post-earnings pop; more on Cisco's earnings beat; and 25 stocks to monitor.
5 Things to Know Today
- China's Xi Jinping warned President Trump that Taiwan tensions could threaten already fragile U.S.-China relations during the Beijing summit. (The New York Times)
- Open AI reportedly weighs legal action as strained Apple partnership fails to meet expectations. (Reuters)
- StubHub shares popped on upbeat Q1, strong demand.
- Cisco Systems just served up its best day in 25 years.
- Schaeffer's Top Stock Picks for 2026 is 3D printing stock Velo3D.
All Eyes Remain on China Summit
Oil prices rose on Thursday after the White House announced that the Strait of Hormuz must remain open, as discussed between Trump and China's Xi Jinping. June-dated West Texas Intermediate (WTI) added nine cents to settle at $101.17 per barrel.
Gold prices were little changed as traders digested ongoing Middle East tensions alongside the Trump-Xi summit. June-dated gold futures fell 0.4% to $4,686.20.
