Dow Jones Hits Record High Amid UnitedHealth Surge and Mixed Economic Signals

The Dow Jones Industrial Average achieved an intraday record high on Friday, fueled by a significant rise in UnitedHealth shares. This came after Berkshire Hathaway announced an increased stake in the health insurer. However, despite this boost, other major indexes such as the S&P 500 and Nasdaq Composite experienced declines due to conflicting economic indicators that affected investor sentiment.

A crucial meeting between U.S. President Donald Trump and Russian President Vladimir Putin drew attention, as it was hoped to potentially influence the geopolitical landscape and impact crude oil pricing. Investors were also anticipating possible shifts in the Federal Reserve's monetary policy, with speculation around an interest rate cut sparked by mixed signals regarding inflation and the labor market.

While some data, like retail sales, met expectations, other areas, including consumer confidence and factory output, displayed weakness attributed to tariffs. Meanwhile, industry reactions varied, with stocks like Applied Materials falling due to poor forecasts, while Intel saw gains amid speculation about government interest.

(With inputs from agencies.)