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Dow Jones Industrial Average closes above 35,000 for the first time

Financial Markets Wall Street stock market Dow Nasdaq S&P
Posted at 6:15 PM, Jul 23, 2021
and last updated 2021-07-23 18:15:43-04

NEW YORK — After a turbulent week on Wall Street, all three indexes closed up for the week. The Dow Jones Industrial Average closed above 35,000 points for the first time ever; the S&P 500 and Nasdaq also had strong showings on Friday and were up better than 1% for the week.

A sharp downturn earlier in the week was prompted by economic fears about the delta variant of the coronavirus and regional spikes in COVID-19 cases. Investors backed away from stocks as some worried the spike in infections could lead to a downturn in the economy.

On Monday, the Dow recorded its worst day since October 2020.

Although concerns about the delta variant are still around, investors and the stock market appear to feel positive about the future of the economy as large companies reported profits so far this year that were better than expected this week.