April 23, 2021

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The daily business briefing: April 6, 2021

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Strong economic data boosted the Dow Jones Industrial Average and S&P 500 to record highs on Monday. The Dow gained 1.1 percent to close at 33,527. The S&P 500 rose by 1.4 percent, and the tech-heavy Nasdaq jumped by 1.7 percent. The main U.S. stock indexes also rose on Friday after the Labor Department announced that the economy had added 916,000 jobs in March, smashing expectations. The gains also were fueled by optimism about the accelerating pace of coronavirus vaccinations, and easing pandemic-related restrictions on businesses in many states. The 10-year Treasury yield remained below a 14-month high reached last week, easing fears of inflation. U.S. stock index futures fell slightly early Tuesday. [Reuters, CNBC]

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