US Stock Market Today: Dow Rockets to Record Above 48,700 as S&P 500 Hits New High, Nasdaq Slips on Oracle AI Jitters
The Dow Jones closed at a record 48,704, up 1.3%, while the S&P 500 also hit a new high at 6,900.99. The Nasdaq fell 0.25% to 23,594 as tech and AI stocks slid after Oracle shares dropped 11–13% on heavy AI spending and negative free cash flow. Three-quarters of S&P 500 stocks rose. The day followed a Fed rate cut and a spike in jobless claims.