The Dow returned some promising results on Thursday, as new job data show that the economy is doing significantly well.
In fact, the data indicate as many 250,000 jobs are being added to the private sector. CNBC reports the following:
“U.S. stocks opened higher on Thursday following the release of stronger-than-expected jobs data.
The U.S. private sector added 250,000 jobs in December, according to a report from ADP and Moody’s Analytics. Economists polled by Reuters expected a gain of 190,000.
Stock index futures added to their gains following the report, while U.S. Treasury yields perked higher. The 10-year yield traded at 2.48 percent, while the two-year yield rose to 1.972 percent.
This was a solid number and with a near record amount of job openings, maybe more people are coming off the sidelines, enticed by higher wages which are coming,” said Peter Boockvar, chief investment officer at Bleakley Financial Group.”