Nasdaq sets fresh all-time intraday trading high, on pace for 22nd record close
The Nasdaq Composite Index on Wednesday touched a fresh record in intraday trade, as the stock market rallied in the wake of better-than-expected private-sector job growth and modestly higher crude-oil prices , bullish factors for investors. The Nasdaq Composite traded at at a high of 5.933.78, eclipsing its previous record of 5.928.93, which it touched March 1. If the Nasdaq finishes above 5914.34 hit March 30, it would log its 22nd record finish of 2017 and its 30th since President Donald Trump won the November election. Sparking the rally was a labor-market report showing that employers added 263,000 private-sector jobs in March, up from a revised 245,000 in February, according to payrolls firm ADP. Although the stock-market advance cooled somewhat after Energy Information Administration showed a unexpected rise in crude inventories, the Dow Jones Industrial Average and the S&P 500 index were trading above their 50-day moving averages, seen as an important sign of upward momentum.