After the Institute for Supply Management said non-manufacturing business activity expanded in March U. S. markets closed higher Monday.

It was reported that the pace of growth in the service sector accelerated slightly with the Purchasing Managers Index up 2.4 percentage points to 55.4. Investors were also encouraged by Friday's Labor Department report that said
162,000 jobs were added to the economy last month.

According to the reports, by close, the Dow Jones industrial average added 46.48 points or 0.43 percent to 10,973.55. The Standard & Poor's 500 index added 9.34 or 0.79 percent to 1,187.44. The Nasdaq composite index added
26.95 or 1.12 percent to 2,429.53.

2,298 shares advanced and 765 declined on the New York Stock Exchange, on a volume of 3.9 billion shares traded.

The benchmark 10-year Treasury note lost 12/32 to yield 3.98 percent.

There was a fall in the euro to $3.3481 from Friday's $1.3491. The dollar also fell against the yen, to 94.344 yen from Friday's 94.56 yen. (With Inputs from Agencies)