US stocks rise after manufacturing growth
US stocks are reviving a September rally and closing with big gains
New York: US stocks are reviving a September rally and closing with big gains following more good news on the economy.
A surprise jump in durable goods orders and corporate spending sent stocks vaulting higher Friday, ending three days of doldrums. A gain in business confidence in Germany also helped markets.
According to preliminary calculations, the Dow Jones industrial average rose 198, or 1.9 per cent, to close at 10,860.
The Standard & Poor's 500 index rose 24, or 2.1 per cent, to 1,149, ending a three-day losing streak. The Nasdaq composite index rose 54, or 2.3 per cent, to 2,372.
About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares.
