Stocks rise as US manufacturing recovers
NEW YORK (AP) — Encouraging signs of a pickup in manufacturing helped send the stock market higher.
It was the third straight gain for the market. The Standard & Poor’s 500 index beat its latest record high close set on March 7.
Ford rose after reporting higher sales for March and Intuitive Surgical jumped after regulators approved the company’s latest robotic surgery device.
The S&P 500 rose 13 points, or 0.7 percent, to close at 1,885 points Tuesday. Eight of the ten sectors in the index rose, led by consumer discretionary and technology stocks.
The Dow Jones industrial average rose 74 points, or 0.5 percent, to 16,532. The Nasdaq composite rose 69 points, or 1.6 percent, to 4,268.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.76 percent.