Dow Jones Industrial Average rises on factory report
Dow Jones Industrial Average surges 100 points on stronger manufacturing report.
NEW YORK — Stocks are extending their gains after a report shows manufacturing activity accelerated in October.
The Institute for Supply Management says its manufacturing index rose to 56.9 last month from 54.4 in September. Economists were expecting a slight slowdown in activity.
The upbeat report follows a similar reading that showed manufacturing activity accelerated in China last month as well.
The Dow Jones industrial average is up 101, or 0.9 percent, at 11,219. If it can hold those gains, it would close at its highest level of the year.
The S&P 500 is up 10, or 0.8 percent, at 1,193, while the Nasdaq composite is up 20, or 0.8 percent, at 2,527.