The Dow Jones Industrial Average reached a new all-time high Friday, topping its record from April 30, as Internet stocks rebounded from three days of losses. The index increased 32.37 points, or .2 percent, to 16,583.34
The Dow Jones Industrial Average reached an all-time high Friday, as the market fluctuated and Internet stocks bounced back from three days of losses.
“The market is just trying to find footing,” Jerry Braakman, chief investment officer of First American Trust, told Bloomberg News.
The Dow Jones increased 32.37 points, or .2 percent, to 16,583.34, above its previous high on April 30. The S&P 500 was also up .2%, closing at 1,878.46, and the Nasdaq Composite Index rose .5 percent after a dismal week in which it fell 1.3%. The S&P 500 was down .1 percent on the week.
Internet stocks like Facebook and Twitter reversed recent drops, with the Dow Jones Internet Composite rising 1.3% but ending the week 3.6% down.