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@starcahier 2 weeks ago

Market recap: Dow hits 50k, Tech rebounds, Amazon slides

Market recap: Dow hits 50k, Tech rebounds, Amazon slides

Market bounced back Friday. The Dow crossed 50,000 for the first time, rising 2.5%. S&P 500 and Nasdaq were both up about 2% after a rough week. Tech led the recovery with Nvidia jumping 8% and Broadcom up 7%. Amazon was the outlier, dropping 7% after announcing plans for $200 billion in spending for 2026. Total capex for the big four tech giants is expected to hit around $650 billion. Bitcoin recovered to $70,000. MicroStrategy stock rose 13% despite reporting a loss. Stellantis tanked 20% after taking a huge charge to scale back its EV plans. In pharma news, the FDA said they are cracking down on copycat weight-loss drugs. Novo Nordisk jumped 7% while Hims & Hers fell 7%. The January jobs report was delayed and will come out next Wednesday.
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