Why RIM Missed Estimates
The Dow was up by 59 points, or 0.5%, to 10,986. The S&P 500 added 9 points, or 0.8%, to 1187 and the Nasdaq was ahead by 26 points, or 1.1%, to 2429.
On Friday, the Labor Department said the U.S. economy added 162,000 nonfarm payrolls in March, after shedding 14,000 in February. Economists had projected 190,000 new jobs. The unemployment rate held at 9.7%, which was in line with expectations. Only the bond market opened for a few hours on Friday, a holiday.
Morning data also showed improving conditions within the services and housing sectors. The Institute for Supply Management said the U.S. services sector grew at the swiftest pace in nearly four years in March and the National Association of Realtors said pending home sales rose 8.2% in February.
Overseas, Japan’s Nikkei rose 0.5%. Hong Kong’s Hang Seng was closed for a holiday. Most European markets also were closed.
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