The Dow Jones Industrial Average closed above 44000 for the first time on record Monday. The index added around 304 points, or 0.69%, to 44293.13. The climb from 43000—hit 20 trading days ago—was led by Goldman Sachs,

Most indexes, like the S&P 500 and Nasdaq Composite, assign a higher weighting to the largest companies by market cap. For example, Apple has roughly 11 times the market cap of Coca-Cola, so it has a much higher weighting in the S&P 500. But in the Dow, Apple is the 12th highest-weighted company by market cap because the index is price-weighted.

The S&P 500 financial index rallied, with banks helping lift the Dow to its highest ever. Read more at straitstimes.com.

The historic addition of artificial intelligence (AI) colossus Nvidia may spell trouble for Wall Street's most iconic index.

Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm.

When the Dow Jones was officially incepted on May 26, 1896, it was comprised of a dozen companies, most of which were tied to the industrial sector. Today, it contains an assortment of 30 historically profitable, time-tested, industry-leading businesses.