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Dow Average tops 17,000

The Dow Jones Industrial Average climbed above 17,000 for the first time as data showed employers added more workers than projected in June and the European Central Bank disclosed details of its stimulus plans.

By Lu Wang | Updated on July 03, 2014
Trader Peter Tuchman jokes while wearing a handmade "Dow 17,000" cap as he works on the floor of the New York Stock Exchange this week. (AP Photo/Richard Drew)

July 3 (Bloomberg) — The Dow Jones Industrial Average climbed above 17,000 for the first time as data showed employers added more workers than projected in June and the European Central Bank disclosed details of its stimulus plans.

Goldman Sachs Group Inc. and MetLife Inc. advanced at least 1.3 percent, pacing gains among banks and insurance companies. Paccar Inc. added 2.4 percent amid speculation that the maker of Kenworth and Peterbilt trucks may receive takeover interest from Volkswagen AG. PetSmart Inc. jumped 12 percent after Jana Partners LLC disclosed a new activist stake. Lululemon Athletica Inc. gained 2.1 percent after a report that the yoga-wear company has explored a buyout by a private-equity firm.

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