NEW YORK, Feb. 6 (Xinhua) -- The Dow Jones Industrial Average topped 50,000 points for the first time on Friday as sentiment improved and investors bought after corrections in previous sessions.
Dow gained more than 1,200 points with its heavyweight stock Nvidia surging 7.92 percent.
The U.S. Consumer Sentiment Index rose to 57.3 in February, up from the final reading of 56.4 in January, according to a preliminary reading released Friday by the University of Michigan Surveys of Consumers.
The Dow Jones Industrial Average rose 2.47 percent to close at 50,115.67. The S&P 500 added 1.97 percent to 6,932.3, and the Nasdaq Composite Index increased by 2.18 percent to finish at 23,031.21.
Nine of the 11 primary S&P 500 sectors ended in green, with technology and industrials leading the gainers by adding 4.1 percent and 2.84 percent, respectively. Meanwhile, communication services and consumer discretionary led the laggards by going down 1.51 percent and 0.66 percent, respectively.
Dow's 50-day moving average at 48,607 is holding as support, which keeps the bullish case intact, said James Hyerczyk, a U.S.-based technical analyst.
Market sentiment improved significantly after the semiconductor sector rebounded from a period of intense volatility. Nvidia and Broadcom led the rally, as investors moved back into high-growth names at more attractive valuation levels. Oracle and Palantir Technologies also recorded gains of over 4.5 percent each.
In the automotive sector, Stellantis saw its shares plummet 23.69 percent following the announcement of a massive business "reset." The automaker disclosed a 26-billion-U.S.-dollar charge primarily linked to a strategic overhaul of its electric vehicle operations, as it pivots back toward internal combustion and hybrid models to meet current consumer demand.
Corporate earnings results produced divergent outcomes across other sectors.
Roblox surged 9.66 percent after the gaming platform reported fourth-quarter user metrics and revenue that surpassed analysts' expectations.
Conversely, Molina Healthcare plunged 25.51 percent to lead Nasdaq decliners after posting an unexpected fourth-quarter loss and slashing its 2026 profit guidance by more than 50 percent, citing soaring medical costs and regulatory headwinds.
In the bond market, the yield on the 10-year U.S. Treasury note stabilized around 4.25 percent, as the equity rally reduced the immediate demand for safe-haven assets.
