The Dow Jones is set for a tenth day of gains in a row today (March 14th) on the back of a drop in the weekly US jobless claims.
For the last week and a half, the Dow has recorded a series of record closing highs and this looks set to continue after optimism in the markets was boosted by the jobs data.
"The string of positive US economic surprises continues," Sal Guatieri, an analyst at BMO Capital Markets, told the Associated Press.
Following the jobless news, the Dow Jones industrial average was 0.4 per cent higher at 14,511.
Markets in Europe also reacted strongly, with the UK's FTSE 100 index of leading shares up 0.4 per cent at 6,510.
Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, recently suggested the Dow's growth could soon be set to slow due to buyers' fatigue.
Learn about the sterling and forex trading at City Index.
GAIN Capital UK Limited (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.