S&P breaches 1,600 level, Dow closes at all-time high
A strong April jobs data which allayed the fears of slowdown in the economy.
Zee Media Bureau
New York: The S&P 500 touched 1,600 level and Dow touched all-time closing highs on Friday, following strong April jobs data which allayed the fears of slowdown in the economy.
The S&P closed above 1,600 and the Dow traded above 15,000 intra day for the first time while other major indexes jumped 1 percent.
The Dow Jones industrial average was up 140.61 points, or 0.95 percent, at 14,972.19. The Standard & Poor's 500 Index was up 16.63 points, or 1.04 percent, at 1,614.22. The Nasdaq Composite Index was up 38.01 points, or 1.14 percent, at 3,378.63.
The government said the unemployment rate fell to the lowest level in four years, 7.5 percent, and US employers added 165,000 jobs in April and more jobs in February and March than previously estimated.
The surge in hiring comes after weeks of conflicting signals about the strength of the global economy. The unexpectedly strong numbers jolted markets higher from the start of trading.
With Agency Inputs