Tech Companies Lead Wall Street to New Highs

An article on AP News

The U.S. stock market rose to more records Thursday after Cisco Systems joined the parade of U.S. companies reporting fatter profits for the start of 2026 than analysts expected.

The S&P 500 climbed 0.8% to set an all-time high for a second straight day. The Dow Jones Industrial Average rose 370 points, or 0.7%, and finished above the 50,000 level for the first time since the war with Iran began, while the Nasdaq composite added 0.9% to its own record.

Cisco helped lead the market after reporting better profit and revenue for the latest quarter than analysts expected. The tech giant’s stock leaped 13.4% for its best day in nearly 15 years, and CEO Chuck Robbins said it saw “very strong, broad-based demand for our products.”

Big Tech behemoths in particular are pouring cash into artificial-intelligence technology, and Cisco gave a forecast for profit in the current quarter that easily topped analysts’ expectations.

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