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U.S. stocks advance with Dow closing above 17,000 for 1st time

July 3, 2014



U.S. stocks rose Thursday, with the Dow index surpassing the 17,000 line for the first time, spurred by stronger-than-expected U.S. jobs data.

The Dow Jones Industrial Average added 92.02 points, or 0.54 percent, to end at 17,068.26. The index extended its rising streak to a third day. The Nasdaq Composite Index climbed 28.19 points, or 0.63 percent, to 4,485.93, the highest finish in roughly 14 years and 3 months.

Labor Department data, released in the morning, showed the U.S. economy generated 288,000 nonfarm jobs in June, beating the market forecast. Buying outpaced selling from the outset of regular trading, pushing the Dow at one point to 17,074.65, beyond the previous intra-day high of 16,998.70 registered Tuesday.

Trading on Thursday finished at 1 p.m., three hours earlier than usual, ahead of the Fourth of July holiday on Friday. The market is scheduled to reopen on Monday.



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Source: Japan Economic Newswire


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