By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks opened higher on Tuesday, after positive reports on global manufacturing bolstered sentiment ahead of U.S. factory data.
“Aside from the positive market reaction to the lessened possibility of US military action in Syria, overseas markets over the past few days were buoyed by better data in China and Europe,” emailed Beter Boockvar, chief market analyst at the Lindsey Group LLC.
The Dow Jones Industrial Average DJIA +0.70% rose 117.80 points, or 0.8%, to 14,928.11.
The S&P 500 index SPX +1.00% climbed 18.27 points, or 1.1%, to 1,651.24, after suffering its worst month in more than a year in August.
The Nasdaq Composite COMP +1.18% added 44.98 points, or 1.3%, to 3,634.84.
Advancers outran decliners nearly 6 to 1 on the New York Stock Exchange, where 91 million shares traded by 9:40 a.m. Eastern. Composite volume hit 420 million.
The Institute for Supply Management’s manufacturing index is due at 10 a.m. Eastern. A separate report on July construction spending is due to be released at the same time.
Global stocks climbed on Monday, a U.S. holiday, after reports had Chinese manufacturing rising in August and euro-area factory production expanding at a more rapid pace than first estimated in August.
Kate Gibson is a reporter for MarketWatch, based in New York.
