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Business
 

Wall Street hits new peaks after US jobs report

Published on Jul 4, 2014 6:30 AM
 

NEW YORK (AFP) - Wall Street rode improving economic data to fresh records this week, spawning comparisons to July 4th fireworks on the eve of the US Independence Day holiday.

The Dow Jones Industrial Average jumped 216.42 points for the four-day week (1.28 per cent) to 17,068.26, while the S&P 500 increased 24.48 (1.25 per cent) to 1,985.44. Both indices notched closing records three days in a row and the Dow closed above 17,000 for the first time.

The gains were also strong on the tech-rich Nasdaq Composite Index, which tacked on 88.00 (2.00 per cent) to 4,485.93.

The highlight of the week was Thursday's Department of Labor employment report, which showed the US economy added a healthy 288,000 jobs in June, while the unemployment rate fell to 6.1 per cent from 6.3 per cent in May.

 
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