A historic jump: the Dow crosses 50,000 points and Trump celebrates the milestone on social networks
The president reacted to the new high with a message on Truth Social in which he linked the market result to his performance in office.
A screen with figures from the Dow Jones Industrial Average stock market.
The Dow Jones Industrial Average index closed above 50,000 points for the first time in its 140-year history. On Friday, the index advanced more than 1,200 points, which represented an increase of 2.5%, to 50,115 units at the close of the session.
The day was accompanied by generalized advances in the main U.S. stock market indicators. The S&P 500 rose 2% and the Nasdaq Composite gained 2.2%.
From nervousness to rally in a single session.
The market had come into Friday's trading day with accumulated losses, driven largely by concerns about the impact of artificial intelligence on software development. That cautious backdrop changed with a vengeance as the indexes began to rally simultaneously, giving way to a rally that ended with the Dow at a never-before-reached level.
The advance not only compensated for the previous setbacks, but also consolidated an improvement in investor sentiment.
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Nvidia and large companies boost the index
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NVIDIA led gains within the Dow Jones as it closed the session up 8%. It was joined by other strong performers, including Caterpillar, 3M, Goldman Sachs, JPMorgan Chase, Amgen, Walmart, and Walt Disney Co.
The participation of companies from different sectors showed that the rally was broad-based and not concentrated in a single group of stocks.
Inflation expectations strengthen market sentiment.
Jeffrey Roach, chief economist at LPL Financial, noted that this result provided reassurance to markets at a time when investors are looking for clear signs of improvement ininflation metrics.
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Trump reacts to record on social media
President Donald Trump reacted to the Dow's new all-time high with a post on Truth Social in which he directly linked the market's result to his performance in office. In his post, he noted that analysts had considered that reaching 50,000 points by the end of his term would be a sign of success, but that level was achieved three years in advance.
Trump also used the stock market milestone to send a message ahead of the midterm elections, warning that, in his opinion, a Democratic victory would have negative consequences for the economy.
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