News

Stocks edge higher in midday trading on Wall Street; Cisco leads the Dow higher

NEW YORK, N.Y. – Indexes are slightly higher at midday on Wall Street, pushing the stock market further into record territory.

Cisco Systems soared 13 per cent, the most in the Dow Jones industrial average, after the network equipment maker reported results that beat the estimates of financial analysts who follow the company.

Wal-Mart fell after the giant retailer blamed higher payroll taxes, bad weather and delayed tax refunds for a sales slump that disappointed investors.

The Dow was up 15 points at 15,290 at midday Thursday, an increase of 0.1 per cent.

The Standard & Poor’s 500 was up a point at 1,659, or 0.1 per cent.

The Nasdaq composite, which is heavily weighted with technology stocks, edged up 11 points to 3,480, or 0.3 per cent.

Indexes wavered in morning trading, then moved higher at midday.