US stocks: Dow pushes further into record territory as global markets rise
A trader works on the floor of the New York Stock Exchange on Wednesday, a day after the Dow closed at a record high.
The Dow Jones Industrial Average pushed further into record territory on Wednesday after a strong increase in private sector hiring in February.
After closing at a record high on Tuesday, the Dow nudged 14,300 points in early trade, the New York Times reported.
Most markets around the world were trading in positive territory following the Dow’s record-breaking performance and upbeat data showing hiring by US companies almost touched 200,000 in February, USA Today reported.
Automatic Data Processing Inc. reported businesses added a robust 198,000 jobs last month, MarketWatch reported.
ADP also revised up its January jobs figures.
The Associated Press reported the Dow has more than doubled since falling to a low of 6,547 in March 2009 in the wake of the financial crisis, which precipitated the worst recession in decades.
Investor appetite for shares has been fueled by the Federal Reserve’s massive asset-buying program and stronger corporate earnings.
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