Dow Jones Industrial Average rises on factory report

Dow Jones Industrial Average surges 100 points on stronger manufacturing report.

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    In this Oct. 27 photo, traders Michael Urkonis (left) and Jonathan Corpina work on the floor of the New York Stock Exchange. A stronger-than-expected manufacturing report sent the Dow Jones Industrial Average soaring Nov. 1.
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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.

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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.

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