• / Free eNewsletters & Magazine
  • / My Account
Home>UPDATE: U.S. stocks set for weekly gains; Dow, S&P 500 hit record

Related Content

  1. Videos
  2. Articles
  1. Low Volatility vs High Dividend: Which One Is Better?

    Morningstar ETF Invest Conference panelists discuss the similarities, differences, and appeal of these two strategies in today's low-growth, low-return, and high-volatility market.

  2. Stock ETFs Worth Sticking Around For

    Although the stock market isn't a screaming buy today, investors shouldn't completely abandon equities for bonds. Here are some stock ETFs that are worth a closer look.

  3. Low Volatility Is Not a Substitute for Value

    S&P's Craig Lazzara discusses several approaches to factor-based investing and why individuals should be aware of the differences in index construction.

  4. Don't Overpay for Quality Dividend Stocks

    P/Es could still rise further, but dividend investors should consider putting a ceiling on their purchase prices so they can maintain desired yields without paying too much.

UPDATE: U.S. stocks set for weekly gains; Dow, S&P 500 hit record

UPDATE: U.S. stocks set for weekly gains; Dow, S&P 500 hit record

07/03/2014

By Carla Mozee and Anora Mahmudova, MarketWatch

NEW YORK (MarketWatch) -- The Dow Jones Industrial Average topped 17,000 for the first time and the S&P 500 hit an intraday record on a jobs report that was far stronger than expected but nonetheless isn't shifting expectations about when the Federal Reserve will start raising interest rates.

The main benchmarks were on track to finish the holiday-shortened week with solid gains, while the Nasdaq Composite eyed its third weekly gain in a row. Trading is expected to get thinner as the day progresses. Both the New York Stock Exchange and Nasdaq will close early at 1 p.m. Eastern Time for the July 4th holiday.

The Dow Jones Industrial Average (DJI) added 76 points, or 0.4%, to 17,052.85. The S&P 500 (SPX) rose 7 points, or 0.4%, to 1,981.693. The Nasdaq Composite (RIXF) added 18 points, or 0.4%, to 4,475.92.

Follow MarketWatch's live blog of today's stock-market action.

Investors clearly welcomed a strong employment data, even as bond investors reassessed how a strengthening economy may impact the Federal Reserve's policy views.

Quincy Krosby, market strategist at Prudential Financial said both the headline numbers and the details of the jobs report were favorable for stock-market investors.

"While the slack in the labor market is tightening, wage growth is still contained. This means that companies are still able to keep their profit margins. And as the ISM numbers indicated, services-sector growth is slowing slightly. Markets would like to see economic growth without a jump in inflation and that is a hard balance to keep," she said.

blog comments powered by Disqus
Upcoming Events
Conferences
Webinars

©2014 Morningstar Advisor. All right reserved.