Dow breaks 50,000 for first time as Wall Street rallies
FOX Business correspondent Lydia Hu reports as the Dow hits an all-time high surpassing the 50,000-point milestone.
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FOX Business correspondent Lydia Hu reports as the Dow hits an all-time high surpassing the 50,000-point milestone.
This is a developing story.
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The Dow Jones Industrial Average topped 50,000 points for the first time on Friday as investors rallied in response to a rout in tech stocks earlier in the week.
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The blue-chip index's climb comes as the U.S. economy has muscled past its rich peers and snapped up investment the world over.
Technical signals suggest a longer-term upwards trend.
The signal has preceded some major stock-market selloffs in the past, one analyst notes.
The latest consumer confidence data points to a public that is cautiously recalibrating expectations for 2026, encouraged by cooling inflation yet unsettled by a volatile labor market. Provisional February figures from the University of Michigan, released Friday (Feb. 6), show consumer sentiment edging up 1.6% from January, marking a modest improvement after months of deterioration.
The broader market is near a significant milestone thanks to big gains for stocks outside of tech. Goldman Sachs and Caterpillar are examples.
US stocks rally hard—Nvidia up 7%, Broadcom 7%, AMD 7.5%. Dow hits all-time high, but rotation into value signals fragile sentiment.
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The Nasdaq Composite is on pace for its worst week since November despite Friday's rebound.
The week was marked by a plethora of unfortunate drawdowns: gold, silver, Bitcoin (BTC), tech stocks (specifically chips), and more.