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Dow surges 187 points as Wal-Mart jumps

(CNBC) U.S. equities rose on Thursday, rebounding from consecutive declines, following strong quarterly results from Wal-Mart and Cisco Systems. Wall Street also cheered a key vote on tax reform.

The Dow Jones industrial average gained 187.08 points to close at 23,458.36, with Wal-Mart and Cisco leading advancers on the 30-stock index. The index rose more than 200 points at session highs. The Nasdaq composite advanced 1.3 percent to 6,793.29, hitting intraday and closing records. Cisco’s gains helped lift the index sharply higher.

Wal-Mart reported better-than-expected quarterly earnings and revenue, sending the stock 10.9 percent higher to an all-time high.

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