Driven by the positive economic data, U.S. stocks closed slightly higher Wednesday. Labor market data and services more than expected ISM index, investors see hope for improvement in labor market conditions, the financial sector so generally higher.
At 16:00 on January 5 EST, the Dow Jones industrial average rose 31.71 points to close at 11,722.89 points, or 0.27%; the Nasdaq composite index rose 20.95 points to close at 2,702.20 points, or 0.78%; the S & P 500 index rose 6.36 points to close at 1,276.56 points, or 0.50%.
Financial sector led the broader market. Financial stocks were the Dow, Bank of America (BAC), JP Morgan Chase (BAC) and American Express (AXP) all closed higher.
Analysts believe that economic data released Wednesday people see employment growth, the hope of mortgage risk reduction, promotion of financial stocks rose as the main driving force.
By the fall in commodity futures prices, utilities, raw materials and the general decline in the energy sector.
Economic data plane, ADP agency reported in December last year, the private sector increased by 29.7 million jobs, the Dow Jones News survey of economists expected an increase of 10 million. ADP employment data appear in its history the biggest monthly increase. The data will be released Friday indicates that the crucial non-farm employment data may be positive.