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Nonfarm Payrolls Top Estimates As The Dow Industrial Average Looks For Further Gains

The Dow Jones Industrial (DJIA) rallied for a 4th straight trading session yesterday to finish in positive territory for the year. This rally made up for a late day plunge in the major indices on Wednesday as investors were forced to recognize that the eurozone is still dictating to the U.S. markets. It was a pretty enlightening session Wednesday, which saw the Dow soar higher by 100+ points from 2:30-3:30p.m., forcing the risk on trade to pull up the Nasdaq (COMP) and S&P 500 (SPY). But all three indices crashed into the red shortly after the ECB announced it would no longer accept Greek debt as collateral.

The European Central Bank's Governing Council suspended a waiver that had allowed Greek banks to use the country's junk-rated government bonds as collateral for central bank loans. In its decision, the ECB said it pulled the plug on the waiver because it can't… Read More …