Dow Jones Industrial Average surpasses 17,000 - 8 News NOW

Dow Jones Industrial Average surpasses 17,000

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NEW YORK (AP) - The Dow Jones industrial average traded above 17,000 for first time after a strong U.S jobs report.

The report pushed up U.S. stock futures before the market opened Thursday. The government said employers added 288,000 workers last month, lowering the unemployment rate to 6.1 percent.

A half hour before the opening bell, Dow Jones industrial average futures rose 34 points at 16,932. Standard & Poor's 500 index futures are up five points at 1,973, while Nasdaq 100 futures are up 13 points at 3,902.

The major indexes closed at their latest all-time highs Wednesday following more signs that the U.S. economy is picking up.

The S&P 500 is on track to end the holiday shortened week with a gain of 0.7 percent. The stock market closes at 1 p.m. Eastern time Thursday, ahead of Friday's Independence Day holiday.

The Labor Department's report showed much stronger hiring in June than economists had forecast. The government also revised numbers up from previous months, saying employers added 217,000 workers in May and 304,000 in April. Monthly job gains so far this year have averaged 230,833, up from 194,250 in 2013.

Major European markets barely budged Thursday. France's CAC 40 was flat, while Germany's DAX added 0.3 percent. The FTSE 100 index of leading British companies advanced 0.4 percent.

In the market for government bonds, the yield on the 10-year note rose to 2.67 percent from 2.63 percent late Wednesday. Bond yields rise when prices fall. The price of crude oil slipped 63 cents to $103.84 a barrel.

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