Dow hits record for a second straight day, as jobs report boosts confidence

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Source: Dukascopy Bank SA
U.S. equities edged higher on Wednesday, extending the Dow's highest level for a third consecutive day, as data showed firms added 198,000 workers the previous month, beating the analysts' estimates. In addition, Ben S. Bernanke, the Chairman of the Fed, said the nation's economy grew at a moderate pace on soaring consumer demand for houses and vehicles. The Dow Jones rallied 0.1% to 1,541.46, after reaching its record high yesterday. All but one sector inched up. Bank of America jumped 3.2% to $11.92, pacing gains in financial shares that were 0.5% higher. Hewlett-Packard followed with a 2.8% rise, leading all tech stocks higher, as its investors aim at taking advantage of a potential turnaround. Furthermore, the mining company Alcoa Inc. added 2.6% on speculation the global aluminum surplus will rise to its highest in two years. On the downside, Microsoft Corp. with a 0.9% slip and Verizon with 0.9% drop.


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Thu, 07 Mar 2013 12:45:03 GMT

Wall Street rises on U.S. job report on Wednesday

U.S. shares continued their rally during Wednesday session, as the U.S. manufacturing sector data stayed steady and surprisingly strong gains in the U.S. private employment brought optimism back to the markets. The Dow Jones Industrial average added 0.41% to 14,311.6, extending its record-breaking run, the S&P 500 rose 0.24% to 1,543.41 and the Nasdaq Composite went up 0.01% to 3,224.6.

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