S&P 500, Dow flat in early trade as Cisco losses offset Walmart gains

The S&P 500 and the Dow Jones Industrial Average were unchanged on Thursday, but still hovered near record levels as a dour forecast from Cisco offset gains in Walmart after its strong outlook. Cisco Systems Inc fell 7.6% after the network gear maker said current-quarter revenue would drop 3% to 5% amid declining global spending on its routers and switches, some of which are made in China.

However, Walmart Inc jumped 1.8% as the world's biggest retailer raised its annual earnings outlook. Its results pointed to strong domestic.

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