Financial News

  • 7 July 2014, 7:31

Dow Jones Closes Above 17,000 For First Time

The US stock index made up of some of the biggest global firms has closed at above 17,000 for the first time ever.

Shares soared after a US jobs report showed unemployment was at its lowest rate in six years.

The government said on Thursday morning that the American economy added 288,000 workers in June, far more than analysts expected.

The Dow - a group of 30 big corporations from American Express to Walt Disney - closed up 92 points at 17,068. 

The S&P 500 - the index more closely tracked by investors - also closed at a record level, hitting 1,985.

The Nasdaq, meanwhile, ended at its highest since 2000.

Trading closed early on the eve of America's July 4 holiday, and the results leave investors with much to celebrate.

The Dow Jones' climb means that the index has gained more than 10,000 points since the depths of the US recession in 2009.

"Right now the story is onward and upward," Neil Massa, senior trading at John Hancock Asset Management, told AP news agency.

 

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