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U.S. Stocks Advance as Data Show Growth in Manufacturing

Summary:

  • 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.
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July 1, 2013

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