Cisco (CSCO) Shares Surge 15%, Boosting Dow Futures Near 50,000

AI Summary

Cisco (CSCO) shares rose 15% in premarket trading following the release of its third-quarter results and guidance that surpassed Wall Street expectations, alongside an announcement of nearly 4,000 job cuts, positively impacting Dow futures. Dow futures are now positioned to retake the 50,000 level, supported by both Cisco's performance and significant rises in Amazon and Nvidia shares, which increased 30% and 25%, respectively, over the past two months. Boeing (BA) also contributed to the positive sentiment with a gain of over 1%, amid expectations from a summit between U.S. and Chinese leaders. This rally comes despite ongoing concerns regarding inflation and energy prices.