United States (US) stocks extended gains on Monday (April 5) as upbeat economic numbers reinforced the view of a robust economic bounce. The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (ISM services PMI) jumped to a record 63.7 in March, well above forecasts of 59, due to the lifting of coronavirus pandemic-related restrictions. This backdrop, together with Friday’s report showing US non-farm payrolls surged by 916,000 jobs in March, raised hopes of a faster-than-expected economic recovery.
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