Stock markets roar, Dow jumps 300 following jobs report

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Stock markets opened to new record highs Monday morning, jumping in the aftermath of a blowout jobs report on Friday.

The Dow Jones Industrial Average opened up 300 points, or 0.9 percent, and the S&P 500 opened up 35 points, or 0.9 percent.

The reaction from stocks came after a Friday jobs report from Labor Department showing a 916,000 upswing in jobs in March, more than a third higher than economists expected.

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Markets were closed for trading to observe Good Friday, delaying the jump in stocks.

The increases pushed the S&P 500, which passed 4,000 for the first time last week, and the Dow to new highs.

The jobs situation is likely to remain strong in April as $1,400 stimulus checks work their way through the economy and vaccinations continue. The recent uptick in COVID-19 cases, however, could threaten the recovery if they lead to new restrictions.