2026.05.1413:32:40UTC+00US Stocks Hold at Record Highs

US equity indices climbed to new highs on Thursday, driven by an earnings-fueled rally in technology stocks. The S&P 500 edged higher and the Nasdaq was little changed, with both closing at record levels, while the Dow advanced past 50,000, moving closer to its all-time peak.

Upbeat guidance from AI-related companies helped support the broader market, offsetting headwinds from elevated energy prices linked to disruptions in the Persian Gulf and a still‑hawkish Federal Reserve outlook. Sentiment was further underpinned by a 0.5% increase in the retail sales control group, a key input for GDP calculations.

Cisco jumped 15% after reporting strong earnings and issuing robust forecasts, while also announcing plans to cut 4,000 jobs as part of a productivity push. Nvidia gained 2%, extending this month’s rally to 15%, after US authorities cleared 10 Chinese firms to receive its H200 chips. The decision came during President Trump’s and several tech CEOs’ visit to Beijing, which has so far maintained a de‑escalatory tone following last year’s peak in trade tensions.