FOX Business Correspondent Lydia Hu reported that the Dow surpassed 50,000 points, hitting a historic high.
On Friday, stocks saw an uptick after a downturn in tech shares earlier in the week, with the Dow Jones Industrial Average closing above the 50,000 mark for the very first time.
The widely monitored index crossed this milestone just after 2:00 PM during Friday’s trading, rising by 1,206.95 points (2.47%) to wrap up the day at 50,115.67.
The S&P 500 and Nasdaq Composite also saw gains, increasing by 1.97% and 2.18%, respectively.
President Donald Trump took to Truth Social to express his excitement over the news.
“The Dow Jones Industrial Average has achieved 50,000 for the first time in history. Congratulations America!” Trump shared.
In another post, he noted, “The ‘experts’ said I would’ve done a great job if I’d gotten the Dow to 50,000 by the end of my term, but here we are, hitting it three years ahead of schedule. Keep that in mind during the midterms, as Democrats will ruin the economy!”
Shares in the semiconductor sector grew as investors anticipated benefits from Amazon and Alphabet, which are expected to ramp up spending on AI data centers.
Nvidia, Advanced Micro Devices, and Broadcom all surged by over 7%. On the flip side, Amazon’s shares dipped nearly 7% after Alphabet announced plans to boost capital spending by more than 50% this year amidst the AI competition.
Following three consecutive days of losses sparked by AI concerns, the S&P 500 and Nasdaq rebounded on Friday.
“Market sentiment has improved due to a positive report from the University of Michigan today,” explained Jeffrey Roach, chief economist at LPL Financial. “The median one-year inflation expectations were at their lowest since January 2025, offering some reassurance to investors looking for improved inflation indicators.”
However, shares in various software companies have dropped due to worries over competitive pressures in the AI sector impacting profit margins, raising questions about inflated valuations during the AI surge.
Nine of the eleven sector indexes in the S&P 500 saw gains, with the Information Technology index leading the way with a rise of over 3.7%, followed closely by a nearly 2.7% increase in the Industrials index.
