U.S. stock markets kicked off the trading day with gains across major indices on Thursday, as investors closely monitor the upcoming leaders’ summit between the United States and China.
Major Indices Post Strong Open
The Dow Jones Industrial Average climbed 0.58% to 49,983.86 in early trading. The S&P 500 rose 0.44% to 7,476.75, while the Nasdaq Composite, led by technology stocks, advanced 0.39% to 26,504.31.
Nvidia Shares Surge on Export Permissions
Nvidia led the charge with shares jumping more than 4%. The U.S. Commerce Department has approved exports of Nvidia’s advanced H200 AI semiconductors to 10 Chinese firms, including Alibaba, easing prior restrictions.
Cisco Stock Rockets on Layoff Announcement
Cisco shares soared 15% after the company revealed plans to reduce its workforce by 4,000 employees, aiming to streamline operations amid shifting market demands.
