U.S. stocks ended higher on Monday, as manufacturing data from the United States and China helped support the outlook for economic growth. The Dow Jones Industrial Average rose 52.45 points, or 0.40%, to 13,264.49. The S&P 500 gained 10.57 points, or 0.75%, to 1,419.04. The Nasdaq Composite gained 28.13 points, or 0.91%, to 3,119.70.
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.
The nation’s official manufacturing Purchasing Managers’ Index for March reached 53.1 on a 100-point scale, up from 51 for February, according to the government-backed China Federation of Logistics and Purchasing.
President Barack Obama on Monday said he was confident that the Supreme Court would uphold the constitutionality of his signature health-care law.
Crude-oil futures ended higher Monday. Crude oil for May delivery advanced $2.21, or 2.2%, to settle at $105.23 a barrel on the New York Mercantile Exchange.
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