Stocks rise as US manufacturing recovers

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Associated Press

Posted on April 1, 2014 at 9:00 AM

Updated Tuesday, Apr 1 at 9:04 AM

NEW YORK (AP) — Stocks are moving higher for a third day in a row as investors are encouraged by signs that the U.S. manufacturing sector is perking up following a deep freeze this winter.

Ford rose 4 percent after reporting a pickup in sales.

The Standard & Poor's 500 rose eight points, or 0.4 percent, to 1,880 as of noon Tuesday. That's two points above the record high close it set on March 7.

The Dow Jones industrial average rose 65 points, or 0.4 percent, to 16,523. The Nasdaq composite rose 49 points, or 1.2 percent, to 4,247.

The Institute for Supply Management's manufacturing index rose slightly in March, and the Commerce Department said construction spending rose 0.1 percent in February.

The yield on the 10-year Treasury note rose to 2.75 percent.

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