Stocks Ended Higher as Data Signaled Strength

U.S. stocks closed higher on Monday, starting the fourth quarter on a strong note, as data pointed to underlying strength in the economy. The Dow Jones Industrial Average rose 152.51 points, or 0.68%, to 22,557.60. The S&P 500 gained 9.76 points, or 0.39%, to 2,529.12. the Nasdaq Composite added 20.76 points, or 0.32%, to 6,516.72.

Oil prices fell to the lowest settlement in more than a week on Monday, as data showed a decline in OPEC’s September compliance with a production-cut agreement and a weekly rise in the number of active U.S. oil rigs for the first time in a month. November West Texas Intermediate crude dropped $1.09, or 2.1%, to settle at $50.58 a barrel.December Brent crude fell 67 cents, or 1.2%, to $56.12 a barrel.

Manufacturing activity in the U.S. reached a 13-year high in September, as strong demand and order growth rode out a severe hurricane season. The Institute for Supply Management said Monday that its index of manufacturing activity climbed to 60.8 last month from 58.8 in August.

General Motors Co. joined a growing group of automakers promising an emissions-free future for cars by pledging to sell 20 all-electric vehicles by 2023. The largest U.S. automaker plans to have a lineup of both battery-powered cars and hydrogen fuel-cell autos, which also run on electricity.