Dow hits fresh record at 52,500, but the milestone owes more to math than momentum — Alphabet's entry into the price-weighted index replaced a $50 stock with a $350 one, mechanically lifting the average even as semiconductor leaders were being sold.
Softening labor data raises eyebrows: ADP private payrolls came in at 98,000 for June, well below the 110,000 analysts expected, marking the second straight month of deceleration in hiring.
