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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Apr 02, 2011
Page
2
The US unemployment rate fell to 8.8 percent in March as the economy added 216000 jobs led by private employers. Gains spread across manufacturing, retail, education and health, and professional and financial services, while local governments cut 15000 positions.
U S March auto sales climbed 17 percent to 1.25 million as buyers favored smaller cars and SUVs due to high gas prices and improving employment. Major automakers GM Ford Honda Nissan posted double-digit gains while Toyota fell 6 percent from a year earlier. Gas averages reached 3.58 per gallon.
The Dow Jones Industrial Average rose about 57 points to near 2011 highs as a modest payrolls report tempered by some optimism. The S&P 500 gained around 0.5 percent and the Nasdaq climbed, extending a second weekly advance. Investors weighed modest job gains against broader economic signals.
Oil reached a 30 month high as demand signals from the United States and China boosted futures. May crude settled at 107.94 per barrel on the NYMEX after hitting 108.05, while Brent settled at 118.41 on ICE.
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