{"id":6090,"date":"2026-05-14T14:01:37","date_gmt":"2026-05-14T14:01:37","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=6090"},"modified":"2026-05-14T14:01:37","modified_gmt":"2026-05-14T14:01:37","slug":"cisco-leads-wall-street-to-more-records-and-the-dow-back-toward-50000","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=6090","title":{"rendered":"Cisco leads Wall Street to more records and the Dow back toward 50,000"},"content":{"rendered":"<div>\n<p><strong>By STAN CHOE, AP Business Writer<\/strong><\/p>\n<p>NEW YORK (AP) \u2014 The U.S. stock market is rising toward more records Thursday after Cisco Systems and others joined the parade of U.S. companies reporting fatter profits for the start of 2026 than analysts expected.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=6088\">Giuliani returns to his show after viral pneumonia hospitalization<\/a><\/p>\n<p>The S&amp;P 500 added 0.3% to\u00a0its all-time high\u00a0set the day before. The Dow Jones Industrial Average climbed 290 points, or 0.6%, and could finish a day above the 50,000 level for the first time since before\u00a0the war with Iran\u00a0began. The Nasdaq composite was 0.3% higher and adding to its own record, as of 9:35 a.m. Eastern time.<\/p>\n<p>Cisco Systems helped lead the market after jumping 16.9%. The tech giant reported better profit and revenue for the latest quarter than analysts expected, and CEO Chuck Robbins said it saw \u201cvery strong, broad-based demand for our products.\u201d Big Tech behemoths in particular are pouring cash into\u00a0artificial-intelligence\u00a0technology.<\/p>\n<p>Also rallying due to better-than-expected profit reports were StubHub Holdings, up 15.1%, and Fossil Group, up 9.8%,. Both sell products that aren\u2019t day-to-day essentials, such as concert tickets and watches. Strong results from them could be an indicator that customers are still willing to spend despite sour readings on consumer confidence.<\/p>\n<p>Whether consumers will keep spending is a big question for Wall Street, as pressures rise on U.S. households because of high oil prices and\u00a0inflation\u00a0created by the Iran war. A report released Thursday said that\u00a0shoppers overall spent less at U.S. retailers\u00a0last month than economists expected. But the deceleration after factoring out gasoline and automobile sales wasn\u2019t quite as bad as economists thought it would be.<\/p>\n<p>A separate report, meanwhile, said\u00a0more U.S. workers filed for unemployment benefits\u00a0last week, which could be an indication of more layoffs.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=6086\">Candidates for California governor to debate live this evening<\/a><\/p>\n<p>Treasury yields zigzagged in the bond market following the reports, but they largely remained lower for the day. The yield on the 10-year Treasury eased to 4.44% from 4.46% late Wednesday.<\/p>\n<div>\n<\/div>\n<p>In stock markets abroad, indexes rose in Europe following a mixed finish in Asia.<\/p>\n<p>Stocks were nearly flat in Hong Kong and down 1.5% in Shanghai as Chinese leader Xi Jinping\u00a0met with\u00a0U.S. President Donald Trump in Beijing.<\/p>\n<p>Some investors hope Trump could encourage Xi\u00a0to use China\u2019s close economic ties with Iran\u00a0to get it to reopen the Strait of Hormuz. The strait\u2019s closure because of the war has kept oil tankers pent up in the Persian Gulf instead of delivering crude to customers worldwide.<\/p>\n<p>The price for a barrel of Brent crude oil, the international standard, fell 0.7% to $104.86 Thursday, but it remains well above its price of roughly $70 from before the war.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=6084\">US filings for jobless benefits hits 211,000 as the war in Iran drags on, clouding economic forecast<\/a><\/p>\n<div>\n<\/div>\n<p><em>AP Business Writers Chan Ho-him and Matt Ott contributed to this report.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. stock market is rising toward more records after Cisco Systems and others joined companies reporting fatter profits than expected.<\/p>\n","protected":false},"author":1,"featured_media":6089,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,2],"tags":[],"class_list":["post-6090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-facts","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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