S&P 500, Dow gain on boost from Cisco; investors assess Fed minutes
and Dow rose on Thursday after upbeat results from Cisco, while investors assessed minutes of the U.S. Federal Reserve's last policy meeting which showed most officials held a hawkish view on interest rates.
U.S. stocks had ended lower on Wednesday as the Fed minutes fueled worries the central bank could tighten monetary policy further, after recent data on retail sales and industrial production highlighted resilience in the U.S. economy. "There's reason to continue to have another interest rate increase from here and then holding that longer than the market expects to," said Thomas Martin, senior portfolio manager at Globalt Investments.
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