Dow @11K >>> TOUCH and GO

Blue Chips Flirts Near Psychological Level
Stocks spent the session in the black today, as the Street cheered the largest monthly job gain since December 2007. More specifically, traders donned rose-colored glasses to view the Labor Department's employment report from Friday, which indicated that 162,000 jobs were added in March, compared to economists' expectations for a gain of 190,000 jobs. Elsewhere, stronger-than-anticipated data on service-sector growth and a pleasantly surprising real estate report added fuel to the bulls' fire, stoking hopes for a healing economy. Though the Dow Jones Industrial Average (DJIA) couldn't pick up enough steam to topple the psychologically significant 11,000 level, the blue-chip barometer tapped a fresh multi-month peak nonetheless.

After touching a new 18-month high of 10,988.06 early in the session, the Dow Jones Industrial Average (DJIA – 10,973.55) settled on a more modest gain of 46.5 points, or 0.4%. Twenty-one of the Dow's 30 blue chips finished higher, with American Express and Caterpillar leading the advancers. Meanwhile, Boeing and Travelers Co. paced the eight declining blue chips, while the shares of Wal-Mart finished at breakeven.

The S&P 500 Index (SPX – 1,187.44) finished near its own multi-month high of 1,187.73, ending with a gain of 9.3 points, or 0.8%. Finally, though the Nasdaq Composite (COMP – 2,429.53) was the lone index to fall short of a new 52-week peak, the tech-rich index advanced 27 points, or 1.1%, with help from Apple Inc.'s (AAPL) iPad-related hype.

Crude Oil Gushes To 18 Months High; Rising Demand Optimism

Crude futures soared to their highest levels in nearly 18 months today, as upbeat economic data stoked hopes for improving demand. In addition, investors responded to news that Somali pirates on Sunday seized a supertanker transporting Iraqi crude oil to the United States. Furthermore, Organization of Petroleum Exporting Countries (OPEC) member Saudi Arabia boosted its official selling price of May-dated crude to American and Asian customers, according to Aramco. Against this backdrop, crude oil for May delivery advanced $1.75, or 2%, to finish at $86.59 per barrel – the contract's fifth straight daily gain. Earlier in the session, the front-month contract rallied as high as $89.82 per barrel.

June Contract Glitters 0.7% Higher

Gold futures also enjoyed a positive session, as the day's well-received economic data escalated traders' appetites for riskier assets. Most notably, the Institute for Supply Management's (ISM) nonmanufacturing index jumped to a higher-than-expected 55.4% in March, invigorated hopes that metals demand is on the rebound. By the close, June-dated gold settled $7.70, or 0.7%, higher at $1,133.80 an ounce.

Levels to Watch in Trading:

Dow Jones Industrial Average (DJIA – 10,973.55) - support at 9,000; resistance at 11,000
S&P 500 Index (SPX – 1,187.44) - support at 950; resistance at 1,300
Nasdaq Composite (COMP – 2,429.53) - support at 1,900; resistance at 2,600