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Dow breaks 25,000 on strong U.S. private hiring numbers

by Reuters / / Source: Reuters
Image: Traders celebrate on the main trading floor of the NYSE as the Dow Jones Industrial Average passes 20,000 after opening of trading session in New York
Traders celebrate on the main trading floor of the New York Stock Exchange (NYSE) as the Dow Jones Industrial Average passes the 20,000 mark shortly after the opening of the trading session.Brendan McDermid / Reuters

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The Dow Jones Industrial Average hit the 25,000-mark for the first time on Thursday, as strong hiring data added to investor optimism.

The blue-chip index crossed 20,000 in early 2017, spurred by President Donald Trump's pro-growth agenda.

"We're going through these milestone numbers more quickly, but they have been steady and positive," said Aaron Anderson, senior vice president of research at Fisher Investments.

The ADP National Employment Report showed that U.S. private employers added 250,000 jobs in December, the biggest monthly increase since March, and much above the 190,000 job additions forecast by economists polled by Reuters.

A more comprehensive nonfarm payrolls report on Friday is expected to show the economy added 190,000 jobs in December, down from the 228,000 additions in November.

"Economic data tomorrow is not going to be tremendously spectacular, but what we're seeing is very positive growth, a good economic backdrop that gives people more confidence in corporate earnings," Anderson said.

World stocks hit records on Thursday, driven by strong manufacturing and services sector data in major economies and the Federal Reserve affirming its view of gradual interest rate hikes this year.

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