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Tuesday, August 20, 2019
HomeNewsEconomyStock Markets Hit New Highs on ‘Rip-Roaring’ Private Sector Jobs Data

Stock Markets Hit New Highs on ‘Rip-Roaring’ Private Sector Jobs Data

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. (Photo: Reuters)
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. (Photo: Reuters)

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. (Photo: Reuters)

The Nasdaq Composite (INDEXNASDAQ:.IXIC) and S&P 500 (INDEXSP:.INX) hit new record highs during late afternoon trading on Thursday.

As of 1:53 PM EST, the Nasdaq Composite was up 31.19, or 0.50% to 6,229.73 after hitting a new record of 6,233.42. The S&P 500 was up 13.08, or 0.54% to 2,424.93, but hit the record high 2,426.07 prior.

UPDATE: The S&P 500 broke through the previous record set earlier in the day, rising +14.55 to 2,426.35 at 2:14 PM EST.

UPDATE: The Nasdaq Composite broke through the previous record set earlier in the day, rising to 6,235.51 at 2:07 PM EST.

The Dow Jones Industrial Average (INDEXDJX:.DJI) was flirting with new highs, up 112.06 points, or 0.53% to 21,120.71.

The bull market took off after the ADP National Employment Report released earlier Thursday morning showed the U.S. private sector added 253,000 jobs in May, far more than the 170,000 median consensus estimate. With construction adding a whopping 37,000 new jobs in May alone, stocks like Deere & Company (NYSE:DE) led the way.

Shares of the construction and equipment operations company were up 2.86 points, or 2.34% to 125.32.

Written by
Data Journalism Editor

Rich, the People's Pundit, is the Data Journalism Editor at PPD and Director of the PPD Election Projection Model. He is also the Director of Big Data Poll, and author of "Our Virtuous Republic: The Forgotten Clause in the American Social Contract."

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