Alphabet, Facebook, Microsoft and Netflix among major contributors. PHOTO: REUTERS
NEW YORK: Wall Street stocks surged with the Nasdaq ending at a record following a strong US jobs report and the announcement of a summit between the US and North Korea. The tech-rich Nasdaq Composite Index jumped 1.8% to 7,560.81, besting the prior record in late January by 55 points. The Dow Jones Industrial Average gained 1.8% to 25,335.74, while the broad-based S&P 500 also advanced 1.7% to 2,786.57. The Labour Department reported that employers added 313,000 jobs in February, far above analyst expectations, while unemployment held steady at 4.1%. The report was “a perfect combination for Wall Street,” said Jack Ablin, Chief Investment Officer of Cresset Wealth Advisors.
Published in The Express Tribune, March 11th, 2018.
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