Dow Topped 17,000 For First Time

U.S. stocks ended with multiple records on Thursday, with the Dow topping 17,000 for the first time after the June jobs report came in much stronger than expected. The Dow Jones industrial average rose 92.02 points or 0.54 percent, to 17,068.26. The S&P 500 gained 10.82 points or 0.55 percent, to 1,985.44. The Nasdaq Composite added 28.19 points or 0.63 percent, to 4,485.93. For the week, the Dow rose 1.3 percent, the S&P 500 advanced 1.25 percent and the Nasdaq climbed 2 percent.

The European Central Bank is prepared to use “unconventional measures” should it appear likely that the euro zone’s annual rate of inflation will remain low for longer than it had expected, its president said Thursday.

Sweden’s central bank Thursday made a surprisingly large cut to its main interest rate, lowering borrowing costs for the first time in six months to boost a sagging inflation rate, which has long fallen short of the central bank’s 2% target.

The Institute for Supply Management services index dipped slightly to 56% in June from 56.3% in May. Any reading above 50% indicates expansion. While the new orders subcomponent rose to 61.2% from 60.5% and the employment index rose 2 points to 54.4%, the business activity index fell to 57.5% from 62.1%.