Another set of new records for the Dow Jones

On Friday afternoon the release of the latest US jobs report and the higher treasury yields that it delivered did not put off the Dow Jones. Of course there is a strong argument for the index to benefit from an increase in employment and that is how it played out on Friday. The Dow reopened at 38,448, which was below its previous record daily close, at 38,519. However, that was no barrier to further upside, as the index then pushed on from a session low at 38,336, to set yet more records. The Dow lifted to reach a new all time record high at 38,783. However, it did stumble somewhat into the close, falling back to end the week at 38,654, with a gain of 134 points on the day. That was another all time daily and weekly closing record. Overnight the Dow futures have fallen back though and are currently indicating a reopening for later on at around 38,590