Dow Briefly Tops 50,000 on Tech and Bitcoin Rally
February 7, 2026
The US stock market jumped on Friday, led by strong gains in tech stocks and a pause in bitcoin's fall. The Dow Jones Industrial Average soared 1,206 points (2.5%) to break the 50,000 mark for the first time ever. The S&P 500 rose 2%, its best day since May, and the Nasdaq climbed 2.2%. Chipmakers Nvidia and Broadcom helped drive the rally, with Nvidia up 7.8% and Broadcom gaining 7.1%. Both companies benefited from investor hopes of heavy spending on artificial intelligence technology. Amazon announced plans to invest about $200 billion this year in AI, chips, robotics, and satellites. Despite this, Amazon's stock fell 5.6% amid doubts about profits. Software stocks were hit by fears that AI tools from companies like Anthropic could take customers, causing some losses. Bitcoin steadied after its recent plunge, rising back above $70,000. The rise helped crypto-linked stocks like Robinhood (+14%), Coinbase (+13%), and Strategy (+26.1%) surge. Smaller US companies also soared, with the Russell 2000 index jumping 3.6%, helped by steady consumer confidence reports. Airlines gained as higher confidence suggested more travel spending. United climbed 9.3%, Delta 8%, and American 7.6%. Overall, the strong day lifted markets after recent worries about tech spending and AI impacts.
Read More at Scmp →
Tags:
Dow jones
S&p 500
Tech stocks
Bitcoin
Ai investment
Stock Market Rally
Comments