Dow, S&P Surge to New Record

U.S. stocks ended higher on Tuesday, with the Dow and S&P 500 surging to record highs, as gauges of factory output in major economies signaled expansion. The Dow Jones Industrial Average gained 129.47 points, or 0.77%, to 16,956.07. The S&P 500 gained 13.09 points, or 0.67%, to 1,973.32. The Nasdaq Composite rose 50.47 points, or 1.14%, to 4,458.65.

U.S. manufacturers remained on a second-quarter hot streak. The Institute for Supply Management said its manufacturing index registered 55.3% in June, just a hair below May’s reading of 55.4%.

Google Inc. is trying to improve its streaming-music chops, scooping up Songza Inc. The companies announced the deal Tuesday afternoon. The price wasn’t disclosed, but Songza’s 40- person team will be joining Google (GOOG), according to Elias Roman, chief executive of Songza.