Many major markets were closed for Good Friday. In Asia, Tokyo surged more than 1% and Seoul and Shanghai also gained.
Hopes are rising that the recovery from the pandemic and the boost to spending will spur a powerful rebound in U.S. hiring this year and Friday's jobs report for March will provide crucial insight into whether those rosy expectations may prove true.Tokyo's Nikkei 225 index gained 1.6% to 29,854.00 and the Kospi in South Korea added 0.8% to 3,112.80. The Shanghai Composite index picked up 0.5% to 3,484.39.
On Thursday, a tech company rally pushed the S&P 500 up 1.2% to 4,019.87, its first close above the 4,000 mark. The Dow Jones Industrial Average gained 0.5% to 33,153.21. The technology-heavy Nasdaq climbed 1.8% to 13,480.11. Technology stocks benefited from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.67% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year.
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