The S&P closed at a new record for the first day of the month amid more sector rotation; tech shares and small caps gained after lagging in March while positive manufacturing reports bolstered sentiment on the economic outlook. There is speculation of further stimulus in China and Japan, amid fears the introduction of a higher sales tax in Japan will dampen consumption. Stocks also were buoyed by dovish comments from Fed Chair Janet Yellen on Monday. Jane Searle reports from the NYSE.

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