The Dow is about to exit correction territory, showing the old-school economy’s role in the AI boom

The Dow (Wall Street 30) was poised to exit correction territory on May 6, 2026, trading above the 49,683.30 close threshold after a roughly 625‑point (1.3%) midday gain to about 49,925. Caterpillar led the rebound and its strong earnings underscore its role in an estimated $765 billion AI‑related spending boom this year, with Goldman Sachs projecting $1.6 trillion of AI capex by 2031. The piece frames the move as evidence that “old‑economy” industrials are participating in the AI rally even as the S&P 500 and Nasdaq have already returned to record highs. Energy names and crude futures pressured parts of the market, while expanding manufacturing activity and consumer savings erosion were flagged as potential headwinds.