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Dow Jones peaks at 4-year high

6th February 2012

The Dow Jones Industrial Average closed in trading on Friday (February 3rd) after reaching a four-year high.

It achieved its highest close position since May 2008 after gaining 1.2 per cent after statistics from the US Labor Department revealed joblessness rates in the country had fallen by 243,000.

Meanwhile, the Nasdaq gained 1.61 per cent to close at 2,905 points, while the S&P 500 was up by 1.5 per cent to close at 1,344.90.

David Joy, chief market strategist at Ameriprise Financial in Boston, told the Wall Street Journal at the time: "There's been a lot of scepticism over whether [recent stock gains] represented anything material. This reinforces that businesses are regaining confidence and increasing hiring."

Earlier in the month, an announcement by the US Federal Reserve that the body will hold interest rates at extremely low levels for at least the next 24 months served to bolster both commodity and equity markets.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.