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NEW YORK – The U.S. stock market roared back on Friday.
Dow Jones hits record
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By the numbers:
The S&P 500 jumped 1.7% Friday and was heading toward its best day since May.
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The Dow Jones Industrial Average soared 1,102 points, or 2.2%, and topped the 50,000 level for the first time. The Nasdaq composite was up 1.9%, as of 2:30 p.m. Eastern time.
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FILE – Traders work on the floor of the New York Stock Exchange during morning trading on Jan. 06, 2026 in New York City. (Photo by Michael M. Santiago/Getty Images) <!–>
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What they’re saying:
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In a post on his social media Truth Social, President Donald Trump celebrated the feat.
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“The Dow Jones Industrial Average just hit 50,000 for the first time in History,” Trump wrote. “CONGRATULATIONS AMERICA!”
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Why did Dow surge?
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Dig deeper:
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Chip companies helped drive the widespread rally, and Nvidia jumped 7.3% to trim its loss for the week, which came into the day at just over 10%. Broadcom climbed 7.2% and fully erased its drop for the week.
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They were the two strongest forces lifting the S&P 500, and they benefited from hopes for continued spending by customers diving into artificial-intelligence technology. Amazon, for example, said late Thursday it expects to spend about $200 billion on investments this year to take advantage of “seminal opportunities like AI, chips, robotics, and low earth orbit satellites.”
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This is a developing story. Check back for more updates.
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The Source: This story was reported from Los Angeles. The Associated Press contributed.
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