The rally continued into April, following the best quarter in more than a decade.
First, the scoreboard:
S&P 500: +6
And now, the top stories:
- NASDAQ announced a $11.3 billion hostile bid to buy the NYSE. NYSE shares jumped over 10 per cent at the open.
- The BLS Jobs reports came in strong at 8:30. Unemployment dropped to 8.8 per cent and 216K new jobs were added, beating estimates of 185K. At one point the Dow was up 0.8%, but this faded through the day.
- The dollar continued a week-long rally, based on the increasing perception that QE3 is dead.
- A shocking attack on a UN compound in Afghanistan left up to 20 dead, with two foreign workers beheaded. The attack was reportedly a response to a Koran burning by Florida pastor Terry Jones.
- The crisis in Japan was unchanged or worse, as TEPCO confirmed soaring levels of radioactive iodine-131 in groundwater.
- Not much progress either in Libya, where the rebels attacked Brega and offered demands for a ceasefire — later rejected. Giant protests also took place in Yemen, Syria and Egypt.
- New census data showed extreme segregation in 22 U.S. cities >