Stocks open higher ahead of manufacturing report
NEW YORK (AP) — Stocks are rising in early trading as traders get ready for the latest report on U.S. manufacturing.
The early gains Tuesday were broad. Seven of the 10 sectors in the Standard & Poor’s 500 index rose, led by technology stocks.
The Dow Jones industrial average rose 108 points, or 0.7 percent, to 16,934 in the first few minutes of trading.
The S&P 500 rose eight points, or 0.4 percent, to 1,968. The Nasdaq composite gained 33 points, or 0.8 percent, to 4,441.
The Institute for Supply Management will report on U.S. manufacturing production, orders and other activity in June. Economists forecast that the gauge rose for the fifth straight month.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.55 percent.