US stock indices close higher but off their highs for the day

<p>The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs:</p><ul><li>Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points.</li><li>S&amp;P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was up 25.46 points.</li><li>NASDAQ index rose 9.44 points or 0.07% at 14103.83. At session highs, the index was up 99.90 points</li><li>The small-cap Russell 2000 rose 2.895 points or 0.16% at 1801.22. At session highs, the index was up 31.67 point</li></ul><p>After the close Cisco systems announced their earnings:</p><ul><li>EPS came in at $1.11 versus $1.03 estimate</li><li>Revenues came in at $14.67 billion versus 14.62 billion estimate</li></ul><p>However, forward guidance showed light revenues and earnings outlook.</p><p>Cisco shares are trading down $5.07 or -9.46% at $48.37 in after-hours trading. </p><p>Palo Alto networks have also announced earnings:</p><ul><li>EPS $1.38 versus $1.16 estimate</li><li>Revenues come in at $1.88 billion versus $1.84 billion estimate</li><li>Sees Q2 revenues at $1.95 billion – $1.98 billion versus $1.96 billion estimate</li><li>Sees Q2 EPS $1.29 – $1.31 versus $1.25 estimate</li></ul><p>Issues week billing guidance despite the positive estimates and guidance.</p><p>Shares of Palo Alto networks are also down sharply. They are currently trading down $22.68 or -8.85% at $233.50.</p>

This article was written by Greg Michalowski at www.forexlive.com.