Dow breaks above 25,000 for the first time ever after strong jobs data

Brendan McDermid | Reuters

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 in New York, U.S., January 25, 2017.

“This was a solid number and with a near record amount of job openings, maybe more people are coming off the sidelines, enticed by higher wages which are coming,” said Peter Boockvar, chief investment officer at Bleakley Financial Group.

Other economic data set for release Thursday include the services purchasing managers’ index (PMI) at 9:45 a.m. ET. These reports will be followed by the Labor Department’s monthly jobs report, which is set for release on Friday.

Equities are off to a strong start in 2018. On Wednesday, the Nasdaq completed its best two-day start to a year since 2006.

The major indexes have also notched record highs to kick off 2018. Stocks also had a strong year in 2017, with the Dow, S&P 500 and Nasdaq rising at least 19.4 percent.

“The naysayers missed out on a lot last year,” said Marc Chaikin, CEO of Chaikin Analytics. “I think this is going to be another good year for stocks.”

In corporate news, Walgreens Boots Alliance reported quarterly earnings and revenue that beat analyst expectations. The company also raised the lower end of its bottom line guidance for fiscal 2018.

Tesla, meanwhile, released fourth-quarter auto delivery numbers that fell short of many Wall Street estimates.