US DJ Rises Above 25,000

The Dow Jones Industrial Average sailed past the 25,000-mark for the first time on Thursday, while other major indexes rose to new highs after a strong private jobs report added to a bullish sentiment from indications of robust growth in major economies.

The ADP National Employment Report showed that U.S. private employers added 250,000 jobs in December, marking the biggest monthly increase since March, and much above the 190,000 job additions forecast by economists polled by Reuters.

A more comprehensive non-farm payrolls report on Friday is expected to show the economy added 190,000 jobs in December, down from the 228,000 additions in November.

“Economic data tomorrow is not going to be tremendously spectacular, but what we’re seeing is very positive growth, a good economic backdrop that gives people more confidence in corporate earnings,” said Aaron Anderson, senior vice president of research at Fisher Investments.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza