Dow closes above 44,000 as tech shares decline ahead of inflation data

The Dow Jones Industrial Average closed above 44,000 for the first time, rising about 300 points. The S&P 500 also reached a record, closing above 6,000. Bitcoin surged 8% to a new high of $87,478. While many stocks rose, major tech shares like Nvidia, Apple, and Microsoft fell about 1%. Investors are focused on upcoming inflation data, with expectations of a 2.5% year-over-year increase in the consumer price index for October. In commodities, oil prices fell, with West Texas Intermediate down 3.13% to $68.18 a barrel. Gold also dropped 2.41% to $2,629.90 an ounce. The bond market was closed for Veterans Day.