The Dow Jones Industrial Average opened at its highest levels on record on Friday after Warren Buffett’s Berkshire Hathaway disclosed a stake in one of its key stocks.
The Dow was up 156 points, or 0.4% after briefly cruising over its Dec. 4 intraday record of 45,073.63 at the open. It needs to hold above 45,014.04 to mark its first record closing high since that date.
The S&P 500 was down 0.2%. It only needs to close in the green to build on its recent stretch of record closing highs. The Nasdaq Composite was down 0.5%. Tech investors are worried about looming chip tariffs.
UnitedHealth Group has been a big reason why the Dow has lagged behind the major indexes this year, so it’s only fitting that the health insurance stock’s Buffett bump put it over the top. The stock was up 10%, adding 172 points to the Dow after Berkshire’s 13-F report revealed the firm bought more than five million shares of UNH in the second quarter of 2025.
UnitedHealth shares have fallen sharply amid regulatory worries and broader industry struggles this year. Berkshire’s purchases suggest the Buffett-led firm is calling a bottom.
The rest of the market was fairly mixed again on Friday. The Census Bureau said retail sales rose 0.5% in July from June, suggesting resilience in the American consumer.
“The market is expensive, inflation has been increasing and unemployment has been rising, and yet consumers are still spending, the economy is still growing and the market is still rising,” writes Chris Zaccarelli, chief investment officer at Northlight Asset Management. “These aren’t the perfect conditions for a robust rally, but right now they are good enough for a slow grind higher.”
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