Dow tops 17,000 after strong payrolls data

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The Dow Jones financial electronic ticker is seen at Times Square in New YorkBy Rodrigo Campos NEW YORK (Reuters) - The Dow industrials broke above the 17,000 milestone on Thursday and the S&P 500 came within 1 percent of piercing through 2,000 after the U.S. unemployment rate fell to its lowest in almost six years and the American economy created many more jobs than forecast. The U.S. economy created 288,000 jobs in June and the unemployment rate declined to 6.1 percent, the lowest since September 2008. The data confirmed expectations that the economy bounced back in the second quarter after a dismal start to the year, and will likely spark talk about the need for the Federal Reserve to normalize monetary policy sooner rather than later. The Dow Jones industrial average rose 69.19 points or 0.41 percent, to 17,045.43, the S&P 500 gained 6.12 points or 0.31 percent, to 1,980.74 and the Nasdaq Composite added 11.81 points or 0.26 percent, to 4,469.55.


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