Time for fireworks: Dow tops 17,000!

NEW YORK (CNNMoney)

Many see it as just a psychological threshold, but it's a level U.S. stocks have never seen before and it comes a mere six months after the Dow crossed 16,000.

All three major indexes are up in Thursday trading, with the Dow Jones Industrial Average at an all-time high of 17,054. The S&P 500 is also at a record level, hitting 1,982 for the first time. The teach heavy Nasdaq Composite is up about 0.25%.

U.S. markets will close early today ahead of the July 4th holiday weekend. So far Hurricane Arthur does not seem to be impacting stocks.

Jobs Bonanza: A strong June job reports drove the optimism in the stock market. The U.S. economy added 288,000 jobs last month, and the unemployment rate fell to 6.1%, down from 6.3% in May. That was much better than economists or Wall Street expected.

Related: What you need to know about the jobs numbers

Bonds react to jobs report: The bond market is moving to sell after the jobs report and Federal Reserve chair Janet Yellen's comments yesterday that the central bank will not use interest rates to pop any potential bubbles in the markets. Bond yields are up to 2.67%, a sign of the improving economy.

Gold investors are similarly skittish, with the precious metal's price dropping almost an entire percentage point to $1,318 an ounce.

Stock movers -- Goldman Sachs, Exepdia: There isn't much deal news or analyst stock upgrades or downgrades before the long weekend, so most stocks are moving modestly. Goldman Sachs (GS) is up 1.6% in early trading, and online travel booking company Expedia (EXPE) is up over 1.5%.

Intel (INTC, Tech30) shares are up 20% so far this year, making it the second best performing stock in the Dow.

It's also fun to note that Nathan's Famous (NATH)hot dogs, sponsor of the big eating contest on July 4 on Coney Island, is a publicly traded company. The stock is down slightly in trading today, but it's up over 7% so far this year and has truly been a "top dog" stock in recent years.

Overseas Markets: European markets are were higher in afternoon trading, with the FTSE 100 up more than 0.6%. Asian markets were mixed, and Australia's stock market jumped a nice 0.7%.

First Published: July 3, 2014: 10:01 AM ET

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