US stocks hit record highs, Dow Jones closes above 50,000

US stocks ended Thursday at record highs for a second straight session, driven by strong technology earnings and optimism following the Beijing summit.

The Dow Jones Industrial Average rose 0.75%, or 370 points, to close at 50,063, surpassing the 50,000 mark for the first time.

The S&P 500 gained 0.77%, or 57 points, to 7,501, while the NASDAQ Composite advanced 0.88%, or 232 points, to 26,635, with both indexes posting record closes for the second consecutive session.

In Europe, the STOXX Europe 600 climbed 0.76% to 616 points, though gains were limited by declines in mining and banking shares.

Britain’s FTSE 100 rose 0.46% to 10,372 points, Germany’s DAX gained 1.32% to 24,456, and France’s CAC 40 added 0.93% to 8,082.

In Japan, the Nikkei 225 fell 1% to 62,654 after touching a record high of 63,799 during the session, while the broader Topix index declined by a similar margin to 3,879.

Brent crude futures for July delivery rose 0.10% to $105.72 a barrel, while WTI crude futures for June delivery gained 0.15% to $101.17 a barrel.

Gold futures for June delivery fell 0.45%, or $21.40, to settle at $4,685.30 an ounce.

Wall Street was supported by strong performances from major technology stocks, particularly Nvidia and Cisco Systems, amid signs that the US and China had reached understandings on key issues including the Iran conflict, advanced chip exports and navigation through the Strait of Hormuz.