UnitedHealth's Surge Boosts Dow Amid Federal Reserve Speculations

On Friday, the Dow hit a record high, fueled by UnitedHealth's soaring shares after Berkshire Hathaway increased its stake in the health insurer. Investors are closely watching mixed economic data to anticipate the Federal Reserve's monetary policy decisions for the coming months.

UnitedHealth Group witnessed an 11.6% jump, marking a more than two-month high, aided by the investments of both Berkshire Hathaway and Michael Burry's Scion Asset Management. Despite broader healthcare sector cost increases and a significant slump in UnitedHealth shares this year, the Dow still trails its Wall Street counterparts towards record highs last seen on December 4.

The healthcare sector led the S&P 500's performance this week, eyeing its best week since October 2022. Other insurance stocks such as Centene and Molina reported gains. Despite positive retail sales figures, the University of Michigan's consumer confidence index dropped, stirring discussions on consumer spending resilience and corporate performance prospects.

(With inputs from agencies.)