Dow Extends Record High
2026-02-12 14:36
By
Andre Joaquim
1 min. read
US stocks were higher on Thursday, gaining some traction following the choppy session yesterday as signals of a strong economy weighed against the likely hawkish response by the Federal Reserve.
The three main averages were 0.5% higher, with the Dow notching another record at 50,300.
Companies in the tech sector diverged sharply in the week as those in the AI infrastructure extended their positive momentum, while bullish expectations for AI automation tools triggered displacement fears on software service providers.
Micron surged 10% after its CFO was optimistic on the production of key HBM4 product.
Also on the sector, Equinix soared 11% after beating its guidance estimates, although Cisco fell 5% on a weaker forecast.
In turn, McDonald's added 1% after delivering its results.
Strong jobs data released yesterday favored the arguments of hawkish FOMC members, as markets await the January CPI tomorrow for the other side of the Fed's dual mandate.