US markets closed the week on a positive note. The Dow posts its biggest four week gain in 75 years. But more news on the economic front: the March unemployment rate jumped to the highest level since 1983. The economy lost 663,000 jobs; posting a jobless rate of 8.5%, treasuries slumped after the jobs report was better than economists' forecast. The benchmark 10-year note yields rose to 2.89%
The ISM (Institute for Supply Management) non-manufacturing index dropped to 40.8 in March versus 41.6 that we saw in February. The crude slipped below 53 dollars per barrel on reports of March unemployment data which weighed on prices. Dollar strength also impacted sentiment, and reconfirmed dollar's position as a safe haven
The Dow Jones closed up 36 points at 8,018, the NASDAQ added 19 points to close the day at 1,621. The S&P 500 gained 8 points and closed at 843.
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