In the commodities world, white sugar rose to a 28-year high on concerns that adverse weather in sugar-producing parts of the world, such as India, will hinder supply. Prices have surged to their highest level for a most-active contract since April 1981, reports M. Shankar of Bloomberg. The news sent the iPath DJ AIG Sugar TR Sub-Idx ETN (SGG) up 3.5% in morning trading.
Overall all three major U.S. indexes reaped the benefits of a better-than-expected jobs report. The Dow Jones Industrial Average and the Nasdaq each added 1.6% while the S&P 500 gained 1.7%.
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Kevin Grewal contributed to this article.