Futures on the Dow Jones Industrial Average (DJIA) are trading well above fair value before of a busy economic day on Wall Street. Already, traders were hit with better-than-expected ADP jobs data -- which showed private payrolls jumped by 250,000 in December, compared to a consensus estimate of 188,000. After notching a new record high yesterday alongside the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), the Dow could take aim at 25,000 in today's session, ahead of tomorrow's all-important nonfarm payrolls report.
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Stocks in Asia had another good day thanks to the record-setting session in the U.S. Leading the way was Japan's Nikkei, which rallied 3.3% to hit fresh 26-year highs after the long New Year's weekend. Hong Kong's Hang Seng also hit new highs, closing up 0.6%, and the Chinese Shanghai Composite added 0.5% thanks in part to upbeat economic data for the services sector. However, South Korea's Kospi fell 0.8%, as shares of Samsung Electronics were under pressure.
The gains are even more impressive out of Europe. On top of rallies from U.S. and Asian shares, European benchmarks are getting a lift from rising oil prices, as well as strong data from the services sector for the eurozone. Energy stocks are leading the way, while automakers like Fiat Chrysler are also outperforming. At last check the FTSE 100 was flirting with fresh highs, up 0.1%, and the French CAC 40 and German DAX were sporting respective gains of 1.3% and 1.1%.