REUTERS: The benchmark S&P 500 stock index posted a slim gain to end with a record closing high on Thursday, as a dour forecast from tech stalwart Cisco Systems was offset by a strong report from big box retailer Walmart.
In contrast, Walmart raised its annual outlook, and the world's largest retailer posted better-than-expected earnings, comparable sales and e-commerce growth in its largest market during the third quarter. The Dow Jones Industrial Average fell 1.63 points, or 0.01per cent, to 27,781.96, the S&P 500 gained 2.59 points, or 0.08per cent, to 3,096.63 and the Nasdaq Composite dropped 3.08 points, or 0.04per cent, to 8,479.02.
Fed Chair Jerome Powell on Thursday said the risk of the U.S. economy facing a dramatic bust is remote, and investors will next be looking to U.S. retail sales data on Friday to gauge the health of the economy.
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