U.S. stock markets experienced a significant rally, with the S&P 500 climbing 0.8% to set a new all-time high for the second consecutive day. The Dow Jones Industrial Average increased by 370 points (0.7%), surpassing the 50,000 mark for the first time since the conflict with Iran began. The Nasdaq composite also reached a record high, gaining 0.9%. A major contributor to this surge was Cisco, whose stock soared 13.4% after reporting better-than-expected quarterly profits and a positive outlook, driven by strong demand for its products. Additionally, the success of Cerebras Systems, which raised $5.55 billion in an IPO and saw its shares rise 68.1%, highlighted the growing interest in artificial intelligence technologies. Other consumer discretionary companies, including StubHub Holdings and Yeti Holdings, reported strong earnings, suggesting that consumers are still willing to spend despite a general sense of economic discouragement. Meanwhile, global markets displayed mixed results, with European indexes rising, while Japan's Nikkei 225 fell 1% and South Korea's Kospi gained 1.8%.