Fourth of July fireworks: Dow jumps above 17,000

clock

The US' two main markets climbed to record highs on Thursday, driven by better than expected jobs data.

The Dow topped the 17,000 mark for the first time with a rise of 0.54% or 92 points, taking it to 17,068. Among the biggest risers were Goldman Sachs, Caterpillar, and United Health. The S&P 500 also hit its 25th record high of the year at 1,985, an increase of 11 points or 0.55%. Non-farm payroll data, released a day earlier than usual because of the national holiday on 4 July, showed employers aded nearly 288,000 new jobs to the economy in June. Meanwhile, the country's unemployment rate fell to 6.1%, the lowest since 2008, in an encouraging sign following disappointing a GDP rea...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on US

Federated Hermes' Pines: Impact of second Trump term on stock markets is 'overemphasised'
US

Federated Hermes' Pines: Impact of second Trump term on stock markets is 'overemphasised'

Amid rising tensions with China

Sorin-Andrei Dojan
clock 02 May 2024 • 1 min read
Fed holds rates steady as 'lack of further progress' on inflation signals higher for longer stance
US

Fed holds rates steady as 'lack of further progress' on inflation signals higher for longer stance

Slowdown of QT programme

Valeria Martinez
clock 02 May 2024 • 2 min read
T. Rowe Price's Ritu Vohora: Recalibrating expectations around the US
US

T. Rowe Price's Ritu Vohora: Recalibrating expectations around the US

From soft landing to no landing

Ritu Vohora
clock 26 April 2024 • 4 min read
Trustpilot