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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 2% Friday for its best day since May.
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The Dow Jones Industrial Average soared roughly 1,200 points and topped the 50,000 level for the first time, while the Nasdaq composite rallied 2.2%.
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Bitcoin steadied following a weekslong plunge that had sent it more than halfway below its record price set in October. It climbed back above $70,000 after briefly dropping close to $60,000 late Thursday.
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Prices in the metals market also calmed a bit following their own wild swings. Gold rose 1.8% to settle at $4,979.80 per ounce, while silver added 0.2%.
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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 7.8% to trim its loss for the week, which came into the day at just over 10%. Broadcom climbed 7.1% 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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The Source: This story was reported from Los Angeles. The Associated Press contributed.