Stocks Rise after Economic Data

U.S. stocks posted gains in midday trading on Monday after a gauge of manufacturing rose more than expected while another report showed an unexpected drop in construction spending. The Dow Jones Industrial Average lately rose 62.85 points to 13,274.89. The S&P 500 was up 11.13 points to 1,419.60. The Nasdaq Composite gained 24.07 points to 3,115.64.

A gauge that measures the strength of the manufacturing sector, produced by the Institute for Supply Management, rose to 53.4% last month from 52.4% in February. Reading over 50% indicate that more manufacturers are expanding than contracting.

Groupon Inc. shares slid Monday as several Wall Street analysts questioned the stability of the company’s business following a revision of its fourth-quarter results.