The Dow Jones Industrial Average has breached the 25,000-mark for the first time ever, as strong data for U.S. private hires drove investor optimism.
The record marks a 25% boost in less than a year since the blue-chip index crossed 20,000 as recently as early 2017
“We’re going through these milestone numbers more quickly but they have been steady and positive,” Aaron Anderson, senior vice president of research at Fisher Investments, said.
U.S. private employers added 250,000 jobs in December, accoridng to ADP National Employment Report data. This is 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.