Stock Opened Higher on China Manufacturing Data

U.S. stocks opened higher on Tuesday as a report showed China’s manufacturing expanded before the release of U.S. The Dow Jones industrial average lately rose 98.15 points, or 0.58%, to 16,924.75, the S&P 500 gained 7.79 points, or 0.40%, to 1,968.02 and the Nasdaq Composite added 33.37 points, or 0.76%, to 4,441.55.

A report  showed manufacturing in China expanded in June by the fastest pace this year.  A purchasing managers’ index rose to 51.0 last month from 50.8 in May, the National Bureau of Statistics and China Federation of Logistics and Purchasing said. The reading matched economists’ median estimate. A similar gauge from HSBC Holdings Plc and Markit Economics advanced to 50.7 from the previous month’s 49.4.

Genreal Motors said June sales barely were above a year ago — up 1% to 267,461. Core brand Chevrolet fell 2.5% as roaring sales of the new-design Suburban and Tahoe full-size, truck- based SUVs, as well as by the Corvette, couldn’t overcome losses mainly by Malilbu mid-size and Impala full-size sedans.

Dov Charney, ousted as American Apparel Inc’s (APP.A) chairman and chief executive two weeks ago, said he has increased his stake in the apparel retailer to 43 percent, as he fights to regain control of the company he founded.

Twitter Inc said Chief Financial Officer Mike Gupta will become senior vice president of strategic investments and named Anthony Noto as his replacement.