Strong earnings from Wal-Mart, Cisco drive US stocks higher

U.S. stocks closed sharply higher Thursday, snapping a two-day losing streak.

Investors cheered strong quarterly earnings from Wal-Mart Stores, Cisco Systems and other companies. Technology stocks accounted for much of the market’s gains, which helped lift the Nasdaq composite to its first record high in just over a week.

Health care companies and consumer product makers also posted solid gains. E...