The Dow Jones industrial average climbed above 17,000 for the first time ever on Thursday morning as data showed employers added more workers than projected in June and the European Central Bank disclosed details of its stimulus plans.
The Dow gained 71.09 points, or 0.4 percent, to 17,047.33 by mid-morning. The Standard & Poor’s 500 rose 0.3 percent, to a record 1,980.95. Trading in S&P 500 stocks was 7.8 percent above the 30-day average during this time of the day. Equities markets close at 1 p.m. Thursday before the Independence Day holiday.
ECB President Mario Draghi reiterated that he’ll keep interest rates low as officials try to revive the region’s economy with a new round of emergency measures.
“The key ECB interest rates will remain at present levels for an extended period of time,” Draghi said at a press conference in Frankfurt after policy makers left borrowing costs unchanged.