S&P 500 1985 +11
Nasdaq 4486 +28
DOW DELIGHT: The Dow Jones industrial average busted through the 17,000 mark today -- a record high -- propelled by a powerful burst of hiring in America.
Stock traders celebrated the news that the nation added 288,000 jobs last month, driving the unemployment rate to 6.1 percent.
The Dow ended the day at 17,068, up 92 points for a 0.54 percent gain. The S&P 500 gained 0.55 percent and the Nasdaq rose 0.63 percent.
The head of the
The bond market snoozed through it all as the yield on the 10-year Treasury barely budged at 2.64 percent.
Health care and telecom stocks were the best performing sectors on the session, noted
ANALYST INSIGHT: The good news for jobs may cause the Federal Reserve to hasten the day that it begins raising short-term interest rates, analysts are saying. "The stellar jobs report hits the Fed right between the eyes on how good the labor market conditions out there truly are," said
The nation's job count has now topped 200,000 for five months in a row. Rupkey thinks the Fed may start raising rates as soon as next March.
Not so fast, says
ICAHN OUT; UP GOES STOCK: Shares in American Railcar gained 2 percent today, a day after Chairman
LOCAL INDEX: The Bloomberg St. Louis Index rose 8 to 927.
STL STOCKS GAINERS LOSERS
THE WEEK AHEAD: The usual quarterly earnings report extravaganza will get going in earnest later this month. Analysts at Dow Jones Indices are expecting a 11 percent earnings rise for the second quarter, compared to a year ago.
The week ahead looks rather calm in terms of economic news. On Tuesday, the Federal Reserve will report consumer credit. Analysts think consumers fell
On Wednesday, the Fed will release the minutes from the June meeting of its Open Markets Committee, which may reveal more of the Fed's thinking on the economy and the likely course of interest rates.
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