S&P 500 Finished at Four-week High

U.S. stocks advanced on Tuesday with the S&P 500 closing above 2,100, its highest level in four weeks, as investors shrugged offa weaker-than-expected manufacturing report. The Dow Jones Industrial Average jumped 168.43 points, or 95%, to 17,888.35. The S&P 500 gained 22.22 points, or 1.07% to 2,102.63. The Nasdaq Composite was up 47.64 points, or 0.93%, to 5,156.31.

American manufacturers of goods such as electronics, chemicals and heavy machinery saw their businesses contract in November atthe sharpest pace since the end of the Great Recession, reflecting the damage caused by a strong dollar, cheap energy prices anda soft global economy. The Institute for Supply Management said its manufacturing index fell to 48.6% to last month from 50.1% inOctober, marking the lowest reading since June 2009.

Construction spending picked up steam in October, with particular strength in one surprising area — the manufacturing sector.Manufacturing construction outlays rose 3% in October and jumped 40.5% over the last 12 months, and have averaged yearlyincreases of about 50% throughout 2015.

The Federal Reserve should use the communication tools at its disposal at its December meeting to spell out a gradual pace ofrate increases, Chicago Federal Reserve President Charles Evans said on Tuesday. The Fed has held interest rates near zero forseven years but is widely expected to begin tightening monetary policy at its next meeting on Dec. 15-16.

Benchmark Brent crude settled down on Tuesday on bets OPEC will not cut output to stem a supply glut when the world’s biggest oilproducers meet later this week, while U.S. crude steadied on expectations of a stockpile drop. Brent (LCOc1) settled down 17cents, or 0.4 percent, at $44.44 a barrel.

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