A look at highlights from the day's business news:
Dow flirts with 11,000
Stocks rallied Monday, with the Dow edging closer to 11,000, as investors returning from a long weekend welcomed last week's jobs report, the morning's strong housing market report and the launch of Apple's iPad device.
The market also kept an eye on the 10-year Treasury note yield, which surged to 4 percent as investors dumped treasuries in favor of riskier assets. Oil prices surged to nearly 18-month highs. The dollar was mixed versus other major currencies.
The Dow Jones industrial average added 46 points, or 0.4 percent, to close at 10,973.55. Earlier, the Dow rose to within 11 points of 11,000, a key psychological level. The Dow last closed above 11,000 on September 26, 2008, ending at 11,143.13.
The S&P 500 index gained 9 points, or 0.8 percent closing at its highest point since September 26, 2008, when it topped 1200. The Nasdaq composite added 27 points, or 1.1 percent, closing at its highest point since August 15, 2008.
Dollar weakens on upbeat economic data
The dollar was lower on Monday, as strong economic data fueled investors' hopes that the economic recovery is a sure bet.
What prices are doing: The dollar fell 0.4 percent against the yen to ¥94.245 and 0.5 percent versus the British pound to $1.529. But rose 0.1 percen to $1.348 against the euro.
What's moving the markets: The value of the greenback dipped as investors returned from the long weekend with improved confidence in the economic recovery.
Oil at highest level in nearly 18 months
Oil prices reached their highest level in nearly 18 months on Monday, pushing beyond the narrow range they were trading at during the first quarter of 2010, as the markets reacted to last week's jobs report.
What prices are doing: Crude oil prices for May delivery rose $1.75, settling at $86.62. That's their highest level since Oct. 8, 2008, when crude settled at $88.95.
What's moving the market: Monday was a light trading day for oil, as markets across Europe were closed for the day-after Easter holiday. Markets in Hong Kong and China were also closed.
Treasurys: 10-year yield hits 4 percent
The 10-year Treasury note yield rose to 4 percent Monday for the first time in 18 months, as prices fell on better-than-expected economic data that bolstered investors' demand for riskier assets.
What prices are doing: The benchmark 10-year note fell 27/32 to 96-10/32 and its yield crossed to 4 percent, an important psychological level, for the first time since October 2008. Bond prices and yields move in opposite directions.
The 30-year bond fell 27/32 to 96-7/32, and its yield rose to 4.84 percent from 4.80 percent Friday.
The 2-year note edged down 1/32 to 99-7/32 and yielded 1.17 percent. The 5-year note fell 25/32 to 98-9/32 and yielded 2.74 percent.
CNNMoney.com reporters Alexandra Twin, Chavon Sutton, Annalyn Censky and Hibah Yousuf contributed to this report.