U.S. stocks rose, reports showing improved manufacturing from Japan to the U.S. bolstered confidence in the global economy.
Manufacturing rebounded in June, showing gains in the U.S. housing market and stronger auto sales are helping stabilize industry.
The S&P 500 rose 0.5 percent to 1,614.96, the Dow Jones Industrial Average increased 65.36 points, or 0.4 percent, to 14,974.96
The Institute for Supply Management’s manufacturing index increased to 50.9 in June from 49 a month earlier. Another report from the Commerce Department showed construction spending increased 0.5 percent in May.
In Japan, the quarterly Tankan index showed positive sentiment among large manufacturers for the first time in seven quarters.