Wall Street Stocks: Nasdaq drives to record high

NASDAQ shoots up drastically after US jobs reports and summit announcement between US ans North Korea

Afp March 11, 2018
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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