Financial Markets Wall Street

The U.S. stock market rose to more records after Cisco Systems joined the parade of companies reporting fatter profits for the start of 2026 than analysts expected. The S&P 500 climbed 0.8% Thursday to set an all-time high for a second straight day. The Dow Jones Industrial Average rose 0.7% and finished a day above the 50,000 level for the first time since the war with Iran began. The Nasdaq composite added 0.9% to its own record. Cisco led the way after talking up demand it's seeing from AI and other customers, while oil prices held relatively steady.

The U.S. stock market is falling from its records and joining a worldwide drop for stocks, as higher oil prices send a shiver through the bond market. The S&P 500 fell 0.9% Friday from its all-time high. The Dow Jones Industrial Average dropped 428 points, and the Nasdaq composite sank 1.3% from its own record. Technology stocks led the market lower, particularly AI winners. They had shot so high that some critics said they had gone too far. Oil prices continued rising as the war with Iran drags on. Yields jumped in the bond market on worries about how much more it will worsen inflation.