Good economic news bumps stocks to new highs

A batch of good news on the economy Wednesday pushed the stock market to new highs.

Payroll processer ADP said that U.S. companies added 208,000 jobs in November, the third straight month that hiring has topped 200,000. A separate report showed that service sector activity climbed close to an eight-month high in November.

The reports were an encouraging sign before the government’s monthly jobs survey is published on Friday.

The Standard & Poor’s 500 index rose 7.78 points, or 0.4 percent, to 2,074.33. The Dow Jones industrial average rose 33.07 points, or 0.2 percent, to 17,912.62. The Nasdaq composite climbed 18.66 points, or 0.4 percent, to 4,774.47.

Even older viewers making switch to digital video

People in the U.S. are watching more digital video as traditional TV viewing declines, and it’s not just young people driving the trend, according to a new report from Nielsen.

The measurement firm said Wednesday that the amount of time spent watching videos on computers and smartphones each day among those age 55 and up increased 55 percent in the third quarter, compared with the same quarter last year. Meanwhile, traditional TV viewing among that demographic didn’t change in the quarter.

Among adults 18 to 49 years old, a group cherished by advertisers, daily viewing via the old-fashioned tube decreased 3 percent compared with last year, while digital viewing grew 53 percent.

– From news service reports