Cisco stock is leading U.S Stock Market to new heights on Thursday. S&P 500 added 0.5 per cent to its all-time high set the day before. The Dow Jones Industrial Average climbed 254 points, or 0.5 per cent, and is close to finishing a day above the 50,000 level for the first time since the war with Iran began. The Nasdaq composite was 0.5 per cent higher and adding to its own record. However, it's not only Cisco stock but also two other companies' shares that trading extremely well. These two are StubHub Holdings and Viking Holdings.
Cisco Systems and others joined the parade of U.S companies reporting fatter profits for the start of 2026 than analysts expected. Cisco helped lead the market after jumping 14.6 per cent 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. Cerebras Systems, an AI processor company, raised $5.55 billion after selling its stock in an initial public offering, and its shares are set to begin trading on the Nasdaq later in the day.
StubHub Holdings, Viking Holdings Stocks
Outside of AI, other stocks rallying after delivering better-than-expected profit reports included StubHub Holdings, up 19.3 per cent, and Viking Holdings, up 10 per cent.
Both companies sell products that aren’t day-to-day essentials, such as concert tickets and river cruises. Strong results from them could be an indicator that customers are still willing to spend even though U.S. consumers have been telling surveys they're feeling discouraged about the economy.
Treasury yields zigzagged in the bond market following the reports, but they largely remained steady. The yield on the 10-year Treasury edged down to 4.45 per cent from 4.46 per cent late Wednesday.
In stock markets abroad, indexes rose in Europe following a mixed finish in Asia. Japan's Nikkei 225 fell 1 per cent, while South Korea's Kospi jumped 1.8 per cent to another record thanks to AI-related stocks.
Stocks were nearly flat in Hong Kong and down 1.5 per cent in Shanghai as Chinese leader Xi Jinping met with U.S. President Donald Trump in Beijing.
Some investors hope Trump could encourage Xi to use China’s close economic ties with Iran to get it to reopen the Strait of Hormuz. The strait’s closure because of the war has kept oil tankers pent up in the Persian Gulf instead of delivering crude to customers worldwide, which has driven up crude prices.
The price for a barrel of Brent crude oil, the international standard, fell 0.1 per cent to $105.54 Thursday, but it remains well above its price of roughly $70 from before the war.
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