Wall Street stocks rocketed higher again on Wednesday with the Nasdaq ending above 12,000 for the first time as investors shrugged off disappointing employment data and a cautious Federal Reserve report.[NEW YORK] Wall Street stocks rocketed higher again on Wednesday with the Nasdaq ending above 12,000 for the first time as investors shrugged off disappointing employment data and a cautious Federal Reserve report.
The surge came despite disappointing hiring data from private payrolls firm ADP and a tepid assessment of US economic conditions from the Federal Reserve. The Fed noted"rising instances of furloughed workers being laid off permanently as demand remained soft," especially in the hard-hit services industries.
Source: News Formal (newsformal.com)
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