Markets Right Now: Stocks jump on strong company earnings

NEW YORK (AP) – Stocks are jumping as big-name companies including Wal-Mart and Cisco rise. A day ago, stocks suffered their worst decline in two months.

Wal-Mart climbed 6 percent Thursday after it posted strong sales. The retailer said online sales continued to surge and food sales were strong as well.

Internet gear maker Cisco Systems rose 6.3 percent after it reported a bigger profit than analysts expected and said revenue should grow in its next quarter after two years of declines.

The Standard & Poor’s 500 index gained 13 points, or 0.5 percent, to 2,577.

The Dow Jones industrial average rose 142 points, or 0.6 percent, to 23,413. The Nasdaq composite gained 50 points, or 0.8 percent, to 6,756.