Markets gained Wednesday as economic data appeared to bolster investor confidence. The Dow Jones Industrial Average (DJIA) and S&P 500 opened lower, gained ground into the late morning, declined back to even by mid-day, then took off in the final two hours of trading to maintain gains of 0.24 percent and 0.29 percent respectively. The S&P 500’s close at 1,890.90 represents a new record high for the index.
Driving the day’s gains was the ADP report that showed non-farm payrolls expanding by 191,000 jobs, exceeding economist estimates and giving credence to the theory that a series of limited gains in recent months were driven by harsh winter weather. This was in addition to a report from the Commerce Department that factory orders increased 1.6 percent in February, the highest rate in five months and reversing two-straight months of losses.
Market Results for April 2, 2014
? Standard & Poor’s 500: +0.29 percent to 1,890.90 points
? Dow Jones Industrial Average: +0.24 percent to 16,573.00 points
? NASDAQ Exchange: +0.20 percent to 4,276.46 points
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