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Seeking Alpha 2021-04-06 09:49:37

Dow Jones, Nasdaq pause for breath after fresh market records

More bullish economic data saw investors drive stocks higher in a broad advance on Monday. U.S. services industry activity jumped to a record high in an ISM survey following Friday's bumper jobs report that showed U.S. nonfarm payrolls surging in March. Traders scooped up underperforming sectors like tech and communication services, and the only sector to finish in the red was energy, which was hit by a drop in oil prices. Cruise operators meanwhile had a stellar session, with Norwegian leading the S&P 500 to finish the day up 7% after asking the CDC to resume trips from American ports starting July 4.While the Dow and S&P continue to notch new records, the Nasdaq is still about 3% below its February high as the recent spike in bond yields made growth stocks less attractive. However, yields haven't budged much in recent days and lockdowns in countries like France have recently

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