Dow Jones stock market hits new record and crosses 50,000 points for the first time

Dow Jones Industrial hit the 50,000 point mark Friday for the first time in history - (AP)

The Dow Jones Industrial Average crossed a historic threshold on Friday, passing the 50,000 point mark for the first time in its history.

Stocks surged throughout the day, escalating 1,101 points and pushing the Dow over the mark for the first time. Major tech and semiconductor companies saw some of the largest advances, indicating that investors in the 30 companies tracked by the index, and other major corporations, have confidence that they will fare well in the current economy.