The Dow Jones Industrial Average has been seen in the past as a barometer for how the so-called old economy – think industrials and manufacturing – is doing. This time, though, tech has been the dominant force. The 30-stock average climbed back to 50,000 for the first time since early February, and most of the stocks that led the comeback to that level are tied to artificial intelligence in some capacity. Take Amazon for example. The stock is up 31% since Feb. 10, when the Dow first closed above 50,000. The company has been making moves to bolster its AI offerings. This week, it ditched its Rufus chatbot and made Alexa the focal point of its AI shopping strategy . Caterpillar , up 22% in that time, also has AI links, as the technology’s proliferation leads to greater demand for data centers that need to be built out. Nvidia , which has gained 20% since early February, has also been at the center of AI, with demand for its chips remaining strong. Cisco Systems is also up more than 18% since the Dow’s last trip above 50,000, through Wednesday’s close. It will add to those gains Thursday on better-than-expected earnings and guidance thanks to big AI-related orders. Apple , meanwhile, is up 9% in that time. Outside of the AI driven gains, the Dow can thank UnitedHealth for its trip back to 50,000. The stock is up a whopping 47% over this same time thanks to a combination of strong earnings and solid guidance from management. Aside from these six names, Dow members really haven’t done too well. In fact, most of them are lower in that time. The question is: Can AI keep the Dow moving beyond 50,000 without more help from other stocks?
