gains

Feb. 6 (UPI) — The Dow Jones Industrial Average surpassed 50,000 points for the first time in its history as most blue-chip stocks gained during trading Friday.

The Dow set a new record of 50,115.67 after posting an average gain of 1,207 points and 2.4%, while 28 of 30 blue-chip stocks rose in value during the day’s trading.

The Dow’s record day caused it to post a 2.5% gain for the week.

NVIDIA led the charge with a 7.87% gain while closing at 185.41 after rising 13.53 in value, and Caterpillar posted a 7.04% gain after rising 47.74 in value and closing 726.2.

Investors credited the nation’s economy and significant corporate earnings with spurring the day’s gains after overcoming an emotionally driven selloff earlier in the week, The Wall Street Journal reported.

“Emotional deleveraging selloffs, such as this week, are unnerving,” Mark Hackett, chief market strategist at Nationwide, told the news outlet.

Despite the earlier selloff, Hackett said the “macro and earnings environment remain encouraging.”

In addition to the Dow gains on Friday, investors spurred a 1.97% gain for the S&P 500, which rose 133.90 points and closed at 6,932.30.

The Nasdaq Composite also posted a significant gain by rising 2.18% and 490.63 points to close at 23,031.21 for the day.

Despite the gains on Friday, the S&P 500 was down a slight 0.1% and the Nasdaq 1.8% for the week.

Investments by tech firms in artificial intelligence generally fueled the day’s gains.

“We’re in a gold rush right now with AI,” Falcon Wealth Planning founder Gabriel Shahin told CNBC.

“You have the investment that Google is making, Nvidia is making, that Meta is making [and] that Amazon is making,” Shanin said. “There is money that will be deployed.”

He said investors are moving away from growth stocks and favoring those that provide value amid a “great recalibration.”

The world’s most popular cryptocurrency has fallen nearly 20 percent in value since the start of 2026.

Bitcoin has dropped below $71,000, adding to a week of losses that have wiped out all of its gains since United States President Donald Trump’s re-election in 2024.

The world’s most popular cryptocurrency fell more than 7 percent on Thursday, continuing a steep downward slide that began in mid-January.

Bitcoin, which is famed for its wild price swings, was trading at about $70,900 as of 04:30 GMT.

The latest slide takes the value of the digital asset down by nearly 20 percent since the start of the year.

Bitcoin hit $100,000 for the first time in December 2024 and breached that level again in February and May 2025. But the asset has largely been on a downward trajectory since October, when it hit an all-time high of more than $127,000.

Bitcoin and other digital currencies racked up explosive gains after President Trump’s re-election raised expectations of Washington adopting a light touch to regulating digital assets after years of regulatory crackdowns.

Trump had pledged to turn the US into the world’s cryptocurrency capital during his re-election campaign, and launched his own crypto firm, World Liberty Financial, along with his sons, before winning the vote.

Shortly after taking office, Trump announced the establishment of a strategic crypto reserve that would include Bitcoin and four other cryptocurrencies.

But a Trump-backed bill to regulate the trading of cryptocurrency has stalled in the US Senate amid disagreement between banks and cryptocurrency firms, casting doubt over the industry.

US Democratic Party lawmaker Ro Khanna said on Wednesday that he would investigate World Liberty Financial after The Wall Street Journal newspaper reported that representatives of an Abu Dhabi official signed a $500m deal to buy a 49 percent stake in Trump’s fledgling cryptocurrency venture.

Equities and commodities markets also saw losses on Thursday, with silver dropping as much as 16 percent and benchmark stock indexes in Hong Kong and Japan down about 1.3 percent and 0.7 percent, respectively.

Interior Minister Anas Khattab’s order includes all listed as stateless and sets February 5 as deadline for its rollout.

Syria’s Ministry of Interior has ordered the immediate implementation of a new decree granting citizenship to Kurdish minorities, as government forces continue to consolidate control of the country after a rapid offensive against the Kurdish-led Syrian Democratic Forces (SDF) in the north of the country.

Interior Minister Anas Khattab issued the decision on Wednesday, mandating that the decree applies to all Kurds residing in Syria and explicitly includes those listed as stateless, the Anadolu news agency reported, citing the Syrian television station Alikhbariah.

The ministry has set a February 5 deadline for finalising the measures and their rollout, the report said.

Two weeks ago, Syrian President Ahmed al-Sharaa had declared the recognition of Kurdish as one of the country’s national languages and the restoration of citizenship to all Kurdish Syrians, as he announced a ceasefire between Syrian and Kurdish forces.

The rapid advance of Syrian forces forced the SDF to withdraw from more cities, including Raqqa and Deir Az Zor, allowing the government in Damascus to unite the country after a nearly 14-year-long ruinous civil war.

The development has drawn praise from United States President Donald Trump, who told al-Sharaa that he was “very happy” about the Syrian army offensive despite the previous US backing of the SDF.

Still, there have been reports of Kurdish civilians facing a shortage of food and displacement as a standoff between Syrian forces and the SDF continues in the country’s northern region.

According to the Anadolu report, the authorities in charge of rolling out al-Sharaa’s order have been asked to draft instructions and guidelines for the decree’s implementation at once.

Under al-Sharaa’s decree, the state has also been instructed to safeguard the culture and language of Syrian Kurds, as well as the teaching of the Kurdish language in public and private schools in Kurdish-majority areas.

The decree has also designated March 21 as the date of the Newroz festival, a nationwide celebration welcoming spring that is widely observed, not just in Syria.

On Wednesday, al-Sharaa met Russian President Vladimir Putin in Moscow to discuss the future of Syria and the presence of Russian troops in the country.

At the meeting, Putin praised his Syrian counterpart’s ongoing efforts to stabilise his country.

Since al-Sharaa’s forces toppled Russian ally Bashar al-Assad in December 2024, Moscow has been working to build relations with him and ensure a continued military foothold in the country to bolster its influence in the Middle East.