Dow Hits Record 51,561.93 as Brent Drops 2.8% and Treasury Yields Ease
Updated
Updated · The Associated Press · Jun 4
Dow Hits Record 51,561.93 as Brent Drops 2.8% and Treasury Yields Ease
3 articles · Updated · The Associated Press · Jun 4
Summary
874.86 points sent the Dow Jones Industrial Average to a record 51,561.93 on Thursday, while the S&P 500 rose 0.4% and the Nasdaq slipped 0.1%.
Brent crude fell 2.8% to $95.03 a barrel and the 10-year Treasury yield edged down to 4.47%, easing inflation and borrowing-cost pressure as traders bet the Strait of Hormuz could reopen.
Banks and smaller companies led the rally—Goldman Sachs climbed 5%, Fifth Third 4.7%, U.S. Bancorp 4.4%, and the Russell 2000 gained 1.4%—as investors rotated beyond AI leaders.
AI favorites lagged despite strong results: Broadcom sank 12.6%, Micron fell 7.7%, and CrowdStrike lost 3.8%, suggesting investors wanted more after huge year-to-date gains.
Mixed U.S. economic data, including a slight rise in jobless claims, added to signs of a cooling labor market as Wall Street weighs whether the broad rally can outlast Middle East tensions.