Earlier this year, it was big news when the Dow Jones Industrial Average cracked 14,000 for the first time since 2007. But earlier this morning, promising employment numbers sent the DJIA soaring, up more than 160 points until it surpassed the 15,000 mark, a new high.
As of five minutes ago, the DJIA was still hovering above 15,000 at 15,004, up 173 points from yesterday.
The main force driving this bullish train was this morning’s Dept. of Labor jobs report, which found that the U.S. economy added 165,000 jobs last month, notably higher than estimates.
And it’s not just the Dow that got a Friday morning bump. The Standard & Poor’s 500 rose 17 points to 1615, surpassing the 1,600 point threshold for the first time. Meanwhile, the Nasdaq Composite index showed an even higher level of growth, 1.3%, shooting up 43 points to 3383.
“The strong employment data we saw this morning, we think, is going to be supportive to continued earnings growth, which should support higher stock prices,” an executive at Wells Fargo Private Bank tells the Wall Street Journal. “The bones of the recovery are intact.”
Whether or not he’s correct, this isn’t a bad way to start a weekend.