The Dow Jones Industrial Average reached 50,000 for the first time ever on Friday, a milestone that capped a volatile week in which markets appeared increasingly unhinged — before abruptly bucking higher.

The rally followed days of sharp swings that had unsettled investors, including heavy losses for software stocks and a blistering selloff in bitcoin, raising fresh questions about whether the bull market’s momentum was starting to unravel.

It has been just 431 trading days since the Dow last crossed a 10,000-point threshold, when it first finished above 40,000 on May 17, 2024, according to Dow Jones Market Data — the fastest climb between such milestones on record.

DOW JONES MARKET DATA

The Dow surged 1,206.95 points, or 2.5%, to finish at 50,115.67 on Friday, scoring a fresh record close, according to Dow Jones Market Data. Friday’s rally marked the index’s biggest percentage gain since May of last year.

Earlier in the week, investors were rattled by a selloff in software companies — sparked in part by fallout tied to artificial-intelligence firm Anthropic’s new offerings — alongside bitcoin’s plunge, amplifying fears that risk tolerance was giving way.

By Friday, however, investors rotated back into established bellwethers rather than retreating from stocks altogether. Gains for Nvidia, Caterpillar, 3M, Amgen and Goldman Sachs helped propel the Dow higher, signaling renewed confidence in blue-chip names even as volatility lingered elsewhere.

The Dow crossing 50,000 points is likely to capture the attention of individual investors who don’t follow markets daily, though strategists caution that broader measures such as the S&P 500 provide a more complete view of U.S. equities. Still, the milestone — arriving after a week that tested confidence — may reinforce expectations that the bull market has further room to run.

The new milestone for the Dow could spur some individual investors to chase the rally, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute, in a phone interview.

For his part, Wren expects the U.S. stock market will continue to rise this year on the back of an accelerating economy. He ntoed that Wells Fargo Investment Institute earlier this week raised its forecast for growth this year in real gross domestic product in the U.S. by half of a percentage point, to 2.9%.

The Dow’s big day on Friday also caught the attention of President Donald Trump. “The Dow Jones Industrial Average just hit 50,000 for the first time in History. CONGRATULATIONS AMERICA!,” Trump wrote in a social-media post on Friday afternoon.