The Dow Jones Industrial Average closed above 50,000 for the first time on record during another roller-coaster week, driven by gains in large industrial and financial stocks, as investors grappled with uncertainty over the impact of artificial intelligence on technology companies and a resulting market rotation.
Supporting that rotation was evidence of a cooling labor market, which revived expectations for future Federal Reserve interest rate cuts and benefited interest rate—sensitive sectors that carry significant weight in the Dow.
For the week, the Dow Jones Industrial Average rose 2.5 percent to 50,115, with most of the gains recorded during the Feb. 6 session. The S&P 500 finished the week nearly unchanged at 6,932, recovering from midweek losses. The tech-heavy Nasdaq Composite ended 1.84 percent lower, also erasing earlier gains, while the Russell 2000 advanced 2.17 percent….