Dow hits 25,000 points for first time on strong jobs data
Xinhua,January 05, 2018 Adjust font size:
NEW YORK, Jan. 4 (Xinhua) -- The Dow shot above 25,000 points for the first time on Thursday over strong U.S. private-sector hiring data.
Around 10 minutes into trading, the Dow Jones Industrial Average stood at 25,035.74, up 0.5 percent.
The broad-based S&P 500 gained 0.4 percent to 2,722.61, while the tech-rich Nasdaq Composite Index advanced 0.4 precent to 7,082.08.
The U.S. private sector added 250,000 jobs in December, well above the market consensus of 190,000, according to the National Employment Report released by ADP Research Institute on Thursday.
The ADP figure is widely seen as a pre-indicator for the non-farm payrolls report due on Friday.
Meanwhile, in the week ending Dec. 30, the advance figure for seasonally adjusted initial claims was 250,000, an increase of 3,000 from the previous week's revised level, the U.S. Labor Department said Thursday.
The four-week moving average was 241,750, an increase of 3,500 from the previous week's revised average.
U.S. stocks continued to rise Wednesday, with all three major indices closing at record highs, as investors digested the minutes from the Federal Reserve's December meeting. Enditem