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Updated: Thu, 03 Jul 2014 12:56:12 GMT | By CBC News, cbc.ca

Dow Jones index punches through 17,000 on jobs data



The TSX continues to set records Wednesday on a strong report on Canadian manufacturing. CBC

The TSX continues to set records Wednesday on a strong report on Canadian manufacturing. CBC

The Dow Jones industrial average today punched through the 17,000 benchmark for the first time, trading at 17,066 at midday on record U.S. job numbers for June.

The U.S. jobs report released Thursday showed record hiring in June and an unemployment rate at its lowest level since September 2008.

The Toronto TSX/S&P index, which closed at a record on Wednesday, continued its upward climb and was at 15,239, an increase of 29 points, at midday.

The Canadian dollar is trading at 94.00 cents US, up 0.25 of a cent from Wednesday's close.

The stock market ebullience comes after a string of data reports released this week that showed exports and manufacturing improving in both Canada and the U.S. 

Canada's manufacturing sector was showing signs of a solid recovery in June, with new business growth at the strongest level yet seen in 2014, according to an RBC survey of purchasing managers released Wednesday. 

On Thursday morning, trade figures released from both Canada and the U.S. showed exports expanding by 3.5 per cent in Canada as the auto sector and energy exports rebound. The U.S. also narrowed its trade deficit, an indication the economy is surging ahead after a weak first quarter in which the economy contracted by 2.9 per cent.

The jobs data helped persuade investors that the second-quarter performance will be much more impressive.

On the markets, the Standard & Poor's 500 index rose nine points, or 0.5 per cent, to 1,983. The Nasdaq composite gained 20 points, or 0.5 per cent, to 4,478.

PetSmart was one of Thursday's most active stocks, jumping 13 per cent, after the activist investor Jana Partners disclosed it had taken a 9.9 per cent stake in the company. 

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