Overview
- The index jumped about 2.24% on Friday, briefly trading above the milestone during the session.
- The S&P 500 rose 1.7% and the Nasdaq Composite added 1.9%, with the S&P setting a record earlier this week.
- Gains were linked to enthusiasm for artificial intelligence, strength in chip and cloud names, and momentum from Amazon’s 2024 entry to the Dow.
- Market leadership broadened as investors rotated into financials and industrials, helping the Dow outpace other major benchmarks this year.
- Analysts cautioned that valuations, geopolitics and Federal Reserve decisions could spur volatility, and they noted that the rally’s benefits are concentrated among stock‑owning households.