Dow Industrials Push Up to 3 Year Highs Following Job Reports

Brittney Barrett |

U.S. stocks shot up on Friday following positive reports indicating stronger job creation in the U.S. and the lowest unemployment rate since 2009. In the aftermath, the Dow Industrial Average pushed up 95 points or to 12,416 and reached their highest mark in nearly three years.

The Dow were up 95 points, or 0.8%, to 12416 near midday. Leaders for the morning included Caterpillar (NYSE: CAT) , up 1.9%, and Home Depot (NYSE: HD), trading up 1.7%. The measure hit as high as 12,418.54. The positive reports and recent highs are a source for celebration on Wall Street but investors remain concerned about inflation today. There is a wariness that inflation will begin to emerge outside of the areas of food, energy and certain commodities, where it currently lingers.

Still, today’s reports are positive and the market is responding. Non-farm payrolls exceeded analyst expectations, up 216,000 last month, adding 230,000 jobs to the private sector according to the Labor Department. Meanwhile, the unemployment rate is down 0.1% to down to 8.8% its lowest levels in two years.

Following the release of the report, the Standard & Poor's 500-stock index climbed 0.9% to 1337, led by financial stocks. The Nasdaq Composite Index pushed up 0.8% to 2802.

 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
ACU Acme United Corporation. 21.99 0.00 0.00 43

Comments

Emerging Growth

Reliq Health Technologies Inc.

Moseda Technologies Inc provides mobile and IT cloud computing to increase operational efficiency and security. It develops SmartFleet, a solution designed for commercial use, as well as SmartCare, a mHealth…

Private Markets

POMM

POMM Inc. unveils new Android and iPhone Security and Privacy Solution – a must-have add on to any smartphone user. POMM (Privacy on My Mind™) is a mini-computer encased inside…

XY Find It

Founded by serial entrepreneur Arie Trouw, XY Findables follows a single guiding principle: customers should never lose anything important again. With over 50,000 users around the world, more than 100,000…