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US Stocks Soar to Best Day Since May as Dow Tops 50,000 and Bitcoin Halts Plunge
Technology stocks recover losses, chip companies drive widespread rally as AI spending boosts optimism
Published on Feb. 6, 2026
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The U.S. stock market roared back on Friday, with the S&P 500 rallying 2% for its best day since May. The Dow Jones Industrial Average soared 1,206 points, or 2.5%, topping the 50,000 level for the first time, while the Nasdaq composite leaped 2.2%. Chip companies like Nvidia and Broadcom led the widespread rally, benefiting from hopes for continued spending by customers diving into artificial-intelligence technology. Bitcoin also halted its plunge, climbing back above $70,000 after briefly dropping close to $60,000 late Thursday.
Why it matters
The surge in U.S. stocks, led by the tech-heavy Nasdaq, signals a potential rebound after recent volatility driven by concerns about AI's impact on software companies and big tech firms' massive investments. The recovery in bitcoin prices also eases worries about the broader crypto market. These developments could boost investor confidence and economic optimism, though doubts remain about whether the tech spending will generate sufficient profits.
The details
Chip companies like Nvidia and Broadcom were two of the strongest forces lifting the S&P 500, as they benefited from hopes for continued spending by customers diving into artificial-intelligence technology. Amazon CEO Andy Jassy said the company expects to spend about $200 billion on AI, chip, robotics, and satellite investments this year, similar to Alphabet's recent announcement. However, there are concerns about whether all that spending will create big enough profits to make the investments worthwhile. Amazon's stock dropped 5.6% despite the broader market rally.
- The S&P 500 rallied 2% on Friday, February 6, 2026, for its best day since May.
- The Dow Jones Industrial Average topped the 50,000 level for the first time on Friday, February 6, 2026.
- Bitcoin climbed back above $70,000 on Friday, February 6, 2026, after briefly dropping close to $60,000 late Thursday.
The players
Andy Jassy
CEO of Amazon, who said the company expects to spend about $200 billion on AI, chip, robotics, and satellite investments this year.
Koji Sato
Outgoing CEO of Toyota Motor, who will be replaced by Chief Financial Officer Kenta Kon in April.
What they’re saying
“We must not let individuals continue to damage private property in San Francisco.”
— Robert Jenkins, San Francisco resident (San Francisco Chronicle)
“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”
— Gordon Edgar, grocery employee (Instagram)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
