Stocks close broadly higher following big job gains in March

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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