NEW YORK — The Dow Jones Industrial Average opened lower Friday, trading around 51,423 shortly after the bell, down about 139 points or 0.27% from Thursday's record close, as Wall Street took a breather following a strong rally in blue-chip stocks.

The modest pullback comes after the Dow surged nearly 875 points to a new all-time high of 51,561.93 on Thursday, driven by gains in healthcare, financials and other cyclical sectors amid easing concerns over geopolitical tensions and a rotation out of overheated technology names.

Traders appeared to be locking in some profits while awaiting the May jobs report and other economic indicators that could influence Federal Reserve policy expectations. Broader markets showed mixed signals, with futures pointing to a cautious start to the trading day.

Thursday's Record-Setting Session

The blue-chip index posted its 15th record close of the year on Thursday, climbing 1.73% as investors rotated into more defensive and value-oriented sectors. Healthcare giants like UnitedHealth Group and Merck, along with financial names such as Goldman Sachs, led the charge with gains of around 5%.

The S&P 500 advanced modestly, overcoming a tech pullback, while the Nasdaq Composite finished slightly lower, weighed down by weakness in chipmakers following Broadcom's earnings report.

Broadcom shares tumbled despite solid results, as investors expressed disappointment over guidance, triggering a broader selloff in artificial intelligence-related stocks that had powered much of the year's gains.

Analysts described the........

© International Business Times