Dow nears 11,000 mark on jobs, service-sector news

April 06, 2010

Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark. The Dow rose 46 points and moved closer to crossing the psychological benchmark of 11,000. Growing confidence about the economy hurt demand for Treasury notes and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent. The government's report Friday that the economy posted its biggest job gain in three years in March raised expectations that a recovery is taking hold. Reports Monday of strong improvements in demand at services businesses and in the housing market added to an optimistic mood among traders.

- Associated Press

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