Dow hits 17,000 for first time on payrolls report

Ark_Tui | iStock | Getty Images

Ark_Tui | iStock | Getty Images

U.S. stocks rose on Thursday, lifting the Dow industrials above 17,000, after the government reported the economy created a better-than-expected 288,000 jobs in June and the unemployment rate fell to 6.1 percent.

“It was a very good report; the next leg up in stocks is the 2,000 mark on the S&P 500,” said JJ Kinahan, chief strategist at TD Ameritrade.

Read More Boom! Job growth accelerates, rate falls

Flat ahead of the jobs report, the yield on the 10-year Treasury jumped five basis points to 2.677 percent in its wake.

The European Union kept monetary policy unchanged as expected on Thursday following last month’s measures to stimulate the economy.

Read More ECB holds fire, all eyes turn to Draghi

Symbol
Name
Price
Change
%Change
DJIA Dow Jones Industrial Average 17041.71
65.47 0.39%
S&P 500 S&P 500 Index 1981.88
7.26 0.37%
NASDAQ Nasdaq Composite Index 4475.07
17.34 0.39%

The Dow Jones Industrial Average rose 50.87 points, or 0.3 percent, to 17,027.08.

The S&P 500 added 6.33 points, or 0.3 percent, to 1,980.95.

The Nasdaq advanced 15.97 points, or 0.4 percent, to 4,473.70.

On the New York Mercantile Exchange, gold futures fell $12.80, or 1 percent, to $1,318.10 an ounce; crude oil futures declined 36 cents, or 0.3 percent, to $104.12 a barrel.

On Wednesday, stocks closed mixed, with the Dow and S&P 500 pushing into uncharted territory.

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