U.S. stocks surged Thursday as the Dow Jones reclaimed the 50,000 level, with the S&P 500 and Nasdaq hitting fresh records. The rally was driven by a mix of renewed optimism from a high-stakes Trump Xi summit in Beijing and a sharp earnings and chip-related boost in major tech names. Cisco’s results and guidance, plus Nvidia’s 4.2% rally after U.S. export approvals for H200 chip buyers, helped propel the market higher. Investors also monitored inflation and oil-linked risks.
Crude oil prices dipped after a three-day climb as traders weighed a fragile Iran ceasefire and expectations ahead of a U.S.-China summit. Despite the pullback, analysts say the Strait of Hormuz is still effectively shut, constraining supply and keeping inflation risks high. If disruptions continue, further price surges remain possible.
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