"Cisco helped lead the market after jumping 15.5% in what could be its best day in nearly 15 years. The tech giant reported better profit and revenue for the latest quarter than analysts expected, 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. Such voracious demand for AI, and the big profits it's producing, have been major reasons the U.S. stock market has set records throughout this year."
"Corporate earnings reported so far this season have "reinforced that this is still an AI-led market, but one where the impact is broadening quickly," according to Gargi Pal Chaudhuri, chief investment and portfolio strategist at BlackRock. "What started with a handful of companies is now driving earnings growth across semiconductors, infrastructure, and even parts of the industrial economy," she said."
"Outside of AI, other stocks rallying after delivering better-than-expected profit reports included StubHub Holdings, up 18.2%, Viking Holdings, up 7% and Yeti Holdings, up 4.7%. All three companies sell products that aren't d"
U.S. stock indexes climbed toward additional records after Cisco reported higher-than-expected profit and revenue for the start of 2026. The S&P 500 gained 0.9% to an all-time high, the Dow rose 386 points and neared a first close above 50,000 since the war with Iran began, and the Nasdaq increased 1% to another record. Cisco surged 15.5% and forecast profit for the current quarter above analysts’ expectations, citing very strong, broad-based demand. Demand for artificial intelligence and the cash it generates have supported record-setting markets throughout the year. Corporate earnings so far reinforced an AI-led market with expanding impact across semiconductors, infrastructure, and parts of the industrial economy.
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