(NEW YORK) — Stocks jumped out of the gate Monday as growth in manufacturing suggested the economy may be picking up, or at least, it may not be getting any worse. U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders.
The Dow gained 78 points to close at 13,515. The S&P rose four points, closing at 1,444. The Nasdaq Composite lost three points, however. The index closed at 1,3113.5.
Though builders had fewer construction projects for a second straight month in August, the Commerce Department says overall construction spending dipped seven-tenths of a percent, mainly due to declines in non-residential activity and government projects.
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Jill Disis, CNN
Stephan Rockefeller, EastIdahoNews.com
Herb Scribner, Deseret News
Jose Pagliery, CNN