Stocks close broadly higher following big job gains in March

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Stocks closed broadly higher on Wall Street on Monday as the economy showed more signs that it’s continuing to recover.

The S&P 500 and Dow Jones industrial average both reached record highs. The gains came after the government reported last week that employers went on a hiring spree in March, adding 916,000 jobs, the most since August.

The S&P 500 rose 58.04 points, or 1.4%, to 4,077.91. The Dow rose 373.98 points, or 1.1%, to 33,527.19.

The Nasdaq rose 225.49 points, or 1.7%, to 13,705.59.

The Russell 2000 index of smaller companies rose 10.98 points, or 0.5% to 2,264.89.

Investors had a delayed reaction to the encouraging jobs reports, which was released on Friday when stock trading was closed.

The services sector also showed strong growth in March. Tesla surprised investors with a report that vehicle deliveries doubled during the first quarter. Crude oil prices fell.

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