Following a week of significant turbulence, the stock market staged a strong recovery on Friday. Some technology stocks, previously hit hard, stabilized, even as investors continued their shift towards more traditional sectors of the market. The S&P 500 index rose 2% on Friday, marking its largest single-day gain since May. The index was led higher by heavyweight technology stocks such as NVIDIA and Broadcom. Concurrently, industrial, energy, and financial stocks continued their ascent, a trend reflected in the Dow Jones Industrial Average reaching a new all-time high on Friday. The Dow Jones index, which primarily tracks 30 cyclical companies and also includes large tech stocks like Microsoft and Apple, broke through the 50,000-point mark for the first time, closing at 50,115 points. The Dow rose 2.5% on Friday, also achieving its best daily performance since May. These more traditional industries, which are more closely tied to the economic cycle, have struggled in recent years to keep pace with the soaring gains of technology stocks. However, growing concerns about the rapid expansion of the artificial intelligence sector and the high valuations of AI companies—often based on optimistic projections for new technologies rather than delivered earnings—have recently fueled a renewed interest in more stable market segments. For example, engineering and mining equipment manufacturer Caterpillar rose 7% on Friday, bringing its year-to-date gain to 25%. The banking sector also rebounded from a decline early in January, with both Goldman Sachs and JPMorgan Chase rising approximately 4% on Friday. Despite Friday's rebound, the S&P 500 still ended the week slightly lower, marking its fourth weekly decline in the first six weeks of the year. The index had briefly dipped into negative territory for the year on Thursday but remains up 1.3% for 2024. Adam Turnquist, Chief Technical Strategist at LPL Financial, stated, "The stock market ended a volatile week of trading on a strong note." He added that the Dow's break above 50,000 "cleared a significant psychological hurdle."