Cisco And Walmart Earnings Reports Boost Wall Street
According to Reuters, an upbeat report on housing development and strong earnings reports for Cisco and Walmart pushed the markets on Wall Street higher for a third day.
On May 16th, the Commerce Department reported that home building rose sharper than expected over April, leading the markets to rally.
By the afternoon, the Dow Jones Industrial Average added about 300-points, while the Nasdaq Composite rose 120-points.
The S&P 500 gained about 40-points during morning trading, rising 1.4-percent.
For the S&P, gains made by Cisco Systems and Walmart gave a boost to the benchmark index.