Dow closes at another high

<p>A new high for the Dow has been set.</p>

The Dow reached a new high for the third day in a row yesterday (March 7th).

US stocks closed modestly higher on Thursday, as unemployment data pointed to a pick-up in the country's labour market's recovery.

Paul Zemsky, the New York-based head of asset allocation at ING Investment Management, told Reuters that the day of trading had been a "tranquil" one.

"No one is going to take big positions ahead of tomorrow's number, but the market is definitely in an uptrend," he said.

The S&P financial index added 0.7 per cent and hit an intraday high on Thursday, while JPMorgan Chase & Co added 1.2 per cent.

It has been a good week for the markets around the world, with the FTSE 100 and the Nikkei both reaching levels that were higher than any other point since the start of the recession.

Learn about the sterling and forex trading at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.