Stellar jobs data push US stocks to new records

Stellar jobs data push US stocks to new records

Blockbuster job creation helped push US stocks to new records on Friday, with the tech-heavy Nasdaq smashing through the 16, 000 point level for the first time. "When you add in the big upward revisions to August and September's job numbers, this is a blockbuster," said Jay Mawji, managing director of the global liquidity provider IX Prime. "With America's resurgent economy piling on well over half a million new jobs in October alone, we're firmly in boom territory," Mawji said. The jobs report sent Wall Street stocks higher at the opening bell, with all three main indices immediately streaking to all-time records. European stocks were also higher in afternoon trading, with the benchmark Paris CAC 40 index breaching the 7, 000-point for the first time, while Frankfurt's DAX was in striking distance of an all-time high. London stocks rose 0. 5 percent, aided also by the weak pound a day after the Bank of England unexpectedly held UK interest rates. The sliding pound boosts the share prices of London-listed multinationals earning in dollars. Global equities rose this week after the Federal Reserve finally announced its plan for tapering the vast bond-buying programme, which has provided crucial support since it was