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Dow surges past 50,000
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US stocks surged, with the blue-chip Dow crossing and ending above 50,000 for the first time, driven by consumer confidence and improving outlooks.
Major stock indexes closed sharply lower and bitcoin plunged to near $62,000 Thursday amid broad risk-off sentiment, as investors weighed the latest Big Tech earnings and downbeat labor data.
The Dow Jones Industrial Average surged 1,206.95 points, or 2.47%, to close at 50,115.67 — its first close above 50,000. The S&P 500 gained 1.97% to end at 6,932.30, while the Nasdaq Composite advanced 2.18% to 23,031.21.
President Donald Trump reacted after U.S. stocks surged Friday, pushing the Dow past 50,000 as technology shares powered a market rebound.
Within just four years, the Dow hit another key price: 10,000. The average first touched the level on March 16, 1999. However, it took several days of choppy trading for the index to close a session above 10,000 on March 29, 1999.
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Stock market today: Dow falls on surprise jobless claims; Alphabet shares drop on earnings report (live coverage)
Stock Market Today: The Dow Jones index dropped Thursday on a surprise jump in weekly jobless claims. Alphabet sold off on earnings.