Dow Jones posts eighth straight record close

Paterniano Del Favero
Agosto 5, 2017

The Dow opened at a record high on Friday, while the S&P and the Nasdaq also pushed higher, after data showed USA employers hired more workers than expected in July and also raised wages, signaling labor market tightness.

Official data showed the USA economy added 209,000 jobs last month, beating analysts' expectations, while the unemployment rate fell to 4.3%.

"It's stability. That's what the markets love". Stratos Wealth Partners LTD.'s holdings in SPDR Dow Jones Industrial Average ETF were worth $2,643,000 as of its most recent filing with the SEC. The Nasdaq Composite added 10.90 points, or 0.17 percent, to 6,351.24.

USA equities increased on Friday on better-than-expected employment data.

Analysts, on average, expect S&P 500 earnings to have grown 12 percent in the second quarter and they project earnings up 9.3 percent for the September quarter, according to Thomson Reuters I/B/E/S.

Stronger than expected jobs figures helped to lift USA stocks as trading got under way on Friday. "We're really in a sweet spot here".

SPDR Dow Jones Industrial Average ETF (NYSE:DIA) traded up 0.23% during trading on Friday, reaching $220.57. The S&P 500 gained 5.33 points, or 0.21 percent, to 2,477.49.

Nineteen of the Dow 30 Index members contributed to the rally.

The laggards were led by Walt Disney Company (NYSE: DIS), which fell 1.3%.

Viacom slumped 11.6 percent after the company forecast a low single-digit dip in sales.

Consumer review website operator Yelp saw its shares jump by more than a quarter after it announced the sale of its Eat24 business to Grubhub for $287.5m.

About 6.0 billion shares changed hands in US exchanges, just below the 6.1-billion average over the last 20 sessions.

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