Charlie Pellett

First close ever for the Dow Jones Industrial Average above 50,000.

It was the biggest advance for the S&P 500 index since May, but on the week...

The S&P dropped one-tenth of 1%.

A renewed wave of dip buying lifted stocks in the wake of a tech rout Thursday fueled by worries over the billions of dollars those firms are throwing at artificial intelligence development.

Bitcoin rebounded.

Gold and silver jumped after Thursday's decline.

On the week, Dow Industrials up 2.5%.

NASDAQ down for a fourth week, down 1.8%.

In New York, Charlie Pellett, Bloomberg Radio.

First close ever for the Dow Jones Industrial Average above 50,000.

It was the biggest advance for the S&P 500 index since May, but on the week, the S&P dropped one-tenth of one percent.

A renewed wave of dip buying lifted stocks in the wake of a tech rout Thursday fueled by worries over the billions of dollars those firms are throwing at artificial intelligence development.

Bitcoin rebounded, gold and silver jumped after Thursday's decline.

On the week, Dow Industrials up 2.5%, NASDAQ down for a fourth week, down 1.8% in New York.

Charlie Pellett, Bloomberg Radio.

Sources tell Bloomberg Peloton Interactive has cut 11% of its employees, a cutback aimed at slashing costs.

The source says Peter Stern, the company's CEO who took over last year, informed staffers of the move, which mostly affects engineers working on technology and enterprise-related efforts.

The cuts come ahead of the company's quarterly earnings report next week and follow the launch of new AI-powered bikes and treadmills.

In New York, Charlie Pellett, Bloomberg Radio.

The dollar rose against all major currencies as President Trump announced his pick for the Fed's top job, Kevin Warsh, who is seen as less supportive of deep rate cuts and more worried about inflation.