U.S. stock markets were boosted by decent January jobs numbers as well as strong manufacturing data, with the Dow Jones rising above 14,000 for the first time since October 2007. In early afternoon trading, the index was sitting at a five-year high at 14,001.72, up 141.14.
The U.S. Labour Department’s payroll report showed the economy added 157,000 jobs in January. In addition, the number of jobs created in November and December were revised upward, adding 127,000 jobs more than previously thought.
Markets were also lifted by strong manufacturing numbers. The ISM Manufacturing index was 53.1 points in January, up from 50.2 points in December. Any number above 50 indicates an expansion in manufacturing activity.