Well, well, well. After watching tech stocks get absolutely demolished this week like they owed money to the market gods, Friday decided to throw us a curveball that nobody saw coming. The Dow Jones just smashed through 50,000 for the first time ever, gaining over 1,200 points in what can only be described as the financial equivalent of a comeback story.
Let’s break this down because honestly, it’s been a wild ride. Just days ago, everyone was panic-selling their tech darlings faster than you could say “ChatGPT-5 disappointment.” Software stocks were in full meltdown mode, Bitcoin was flirting with $60,000 (not in a good way), and the general vibe was somewhere between “this is fine” and “maybe I should have listened to my dad about index funds.”
But Friday? Friday said “hold my beer.”
The dip-buyers came out in full force, and suddenly everyone remembered why “buy the dip” has been the winning strategy for the past 18 months. The iShares Expanded Tech-Software Sector ETF – which had entered bear market territory faster than you could update your LinkedIn status – surged nearly 4%. Sure, it’s still down 30% from its peak, but hey, progress is progress.
Here’s where things got spicy in the tech world:
- CoreWeave jumped 20% (because apparently AI infrastructure is back on the menu)
- Nvidia bounced 8% (the king never stays down for long)
- AMD also up 8% (team red representing)
- Super Micro Computer gained 11% (servers are sexy again)
Even Bitcoin decided to join the party, surging 12% after testing everyone’s patience at the $60,000 level. Crypto Twitter probably went from “it’s over” to “we’re so back” in about 3.7 seconds.
The final scoreboard looked pretty sweet:
- Dow: 50,115.67 (+2.5%, +1,206.95 points)
- S&P 500: 6,932.30 (+1.97%)
- Nasdaq: 23,031.213 (+2.18%)
Paul Hickey from Bespoke Investment Group basically summed it up perfectly: people keep coming back to buy the dip because, well, it’s worked for the last 18 months. Will it work forever? Nobody knows, but apparently nobody cares either.
Charles Schwab’s Joe Mazzola called it “a miserable week for tech” that “mercifully approaches the finish line,” which honestly captures the emotional rollercoaster we’ve all been on.
The moral of the story? Markets are weird, timing is everything, and sometimes the best strategy is just surviving long enough to see the bounce. The Dow hitting 50K isn’t just a number – it’s a reminder that even when everything feels like it’s falling apart, someone somewhere is probably getting ready to hit the buy button.
Now, whether this rally has legs or if we’re just setting up for another dramatic episode next week? That’s tomorrow’s problem.