YAHOO [BRIEFING.COM]: Unmoved by the latest jobs report, participants traded stocks in low volume and in a limited range, until a late rally by financial stocks helped take the broader market to session highs heading into the close. Stocks slipped into the red in early action due to an absence of leadership.

Participants were content to let a recent string of gains consolidate after receiving word from the Labor Department that 663,000 jobs were slashed in March, lifting the unemployment rate to 8.5% from 8.1%. The data were on par with expectations.

The March ISM Nonmanufacturing Index was also given a cool response. The index showed continued contraction by coming in at 40.8, which was a bit worse than the reading of 42.0 that was widely expected, and down from 41.6 in February.

After falling to a loss of 0.8% stocks began their upward turn, which ran into a couple of resistance efforts but gathered momentum heading into the close as bids came in from the sideline, lifting share volume on the NYSE to 1.5 billion shares. That helped stocks close 1.0% higher at their best levels of the session, bringing stocks to their best closing level in more than one month. 

Financials underpinned the late rally effort and closed 4.2% higher as the best performing sector. Financials had traded in a quiet manner for most of the session, uninspired by strength in European bank shares, which were bid higher after Royal Bank of Scotland (RBS 9.42, +1.27) indicated it is targeting considerable annual cost savings and plans to resume dividend payments as soon as possible.

As has been the case in the last few sessions, health care (-1.6%) stocks lagged the broader market. The sector's weakness followed Congress' decision to overhaul healthcare.

Corporate news flow was rather slow, but better-than-expected quarterly results and upside guidance from Research In Motion (RIMM 59.29, +10.20) helped the Nadsaq outperform its counterparts. Shares of RIMM were also upgraded by analysts at Deutsche Bank.

Traditional safe havens were under pressure this session. Gold prices nearly spent the entire course of pit trading in the red before closing 1.3% lower at $897.30 per ounce. The benchmark 10-year Treasury Note fell by more than one full point, lifting its yield to roughly 2.89%. DJ30 +39.51 NASDAQ +19.24 NQ100 +1.7% R2K +1.3% SP400 +1.7% SP500 +8.12 NASDAQ Adv/Vol/Dec 1631/2.13 bln/1058 NYSE Adv/Vol/Dec 2087/1.48 bln/957