April 19, 2021

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The daily business briefing: April 5, 2021

1 min read

U.S. stock index surged early Monday after Friday’s blockbuster jobs report indicated a sharp increase in hiring as the pace of coronavirus vaccinations rose and more states lifted restrictions on businesses. Futures for the Dow Jones Industrial Average, the S&P 500, and the Nasdaq rose by 0.6 percent, 0.5 percent, and 0.4 percent, respectively. The Labor Department on Friday reported that the U.S. economy added 916,000 jobs in March, the most since August 2020 and far above the 675,000 expected by economists surveyed by Dow Jones. The unemployment rate fell to 6 percent. “This reflects the lifting of restrictions, ramp-up in vaccinations and boost provided by the fiscal stimulus,” said Anu Gaggar, senior global investment analyst at Commonwealth Financial Network. [CNBC]

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