US STOCKS-Dow, S&P 500 rally to records, boosted by strong economic data – Reuters

SourceReuters
SectorFinancial Markets
CountryMiddle east

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)* U.S. service sector activity at record high - ISM* Tesla jumps after posting record deliveries* Dow up 1.16%, S&P 500 up 1.47%, Nasdaq up 1.74% (New throughout, updates prices, market activity and comments to mid-afternoon; changes byline, adds NEW YORK dateline)NEW YORK, April 5 (Reuters) - U.S. stocks rallied on Monday, as a round of strong economic data on the labor market and services sector buoyed investor optimism for the economic reopening and a muted climb in the 10-year U.S. Treasury yield kept inflation worries at bay.An ISM survey for March showed a measure of U.S.

services industry activity jumped to a record high. The data followed Friday’s report showing U.S. nonfarm payrolls surged by 916,000 jobs in March, trouncing forecasts.Investors have bet on sectors poised to lead an economic reopening, such as energy, financials and materials. A climbing...read more...