Dow Jones hits 17th record close of 2025, tops 48,000 for first time
Futurum Group CEO Daniel Newman says Nvidia’s profits and unmatched demand make it the cornerstone of the AI revolution and pushes back on skeptics who claim the stock is overvalued.
The Dow Jones Industrial Average rose 328 points to close above the 48,000 level for the first time on Wednesday, registering its 17th record high of the year as investors bet on the end of the longest government shutdown in history and shrugged off concerns about an AI bubble.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 47457.22 | -797.60 | -1.65% |
| DIA | SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST – USD DIS | 474.75 | -8.09 | -1.68% |
“We’re climbing that proverbial wall of worry. … The fundamental backdrop remains strong for all this talk about bubbles and such, but that’s just talk. Technical things happen for fundamental reasons, and I think the body of evidence through the lens of the markets themselves is still quite bullish into year-end and quite frankly into the new year,” Rich Ross, Evercore ISI head of technical analysis, said on “Making Money with Charles Payne.”
BESSENT PREDICTS STRONG U.S. ECONOMY
Dow Jones Industrial Average
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The Dow’s back-to-back record close, driven by gains in UnitedHealth and Goldman Sachs, added to the benchmark’s 13% gain this year, which is still trailing the S&P 500 and Nasdaq, which have risen 16% and 21%, respectively. Tech member IBM also hit a record high after strong quarterly results.
Investors have poured money into exchange-traded funds this year at a fever pitch with U.S.-listed ETFs netting $171 billion in October, pushing totals for 2025 to over $1 trillion, according to the ETF Flash Flows report from State Street Investment Management.
US COMPANIES SECURE RECORD $170B IN GLOBAL CONTRACTS UNDER TRUMP SO FAR, COMMERCE SAYS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UNH | UNITEDHEALTH GROUP INC. | 332.57 | -6.51 | -1.92% |
| GS | THE GOLDMAN SACHS GROUP INC. | 805.50 | -33.47 | -3.99% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 304.85 | -10.19 | -3.23% |
| SPY | SPDR S&P 500 ETF TRUST – USD DIS | 672.07 | -11.24 | -1.64% |
| QQQ | INVESCO QQQ TRUST – USD DIS | 608.40 | -12.68 | -2.04% |
In the broader market, healthcare and financials paced modest gains for the S&P 500, lifting ETFs, including the SPDR Financial Index and the healthcare select sector ETF. The Nasdaq ended the session little changed, but AMD added 9% after the company delivered some ambitious targets at its investor day this week.
ETF NEWS AND ANALYSIS: FOXBUSINESS.COM
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLF | FINANCIAL SELECT SECTOR SPDR ETF | 52.97 | -0.70 | -1.30% |
| XLV | HEALTH CARE SELECT SECTOR SPDR ETF | 152.76 | -0.04 | -0.03% |
| AMD | ADVANCED MICRO DEVICES INC. | 247.96 | -10.93 | -4.22% |
“The reason people are invested is because we’re really starting to see the productivity benefits on the other side for all enterprises….
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