Stocks Rally Into The New Year - Spokane, North Idaho News & Weather KHQ.com

Stocks Rally Into The New Year

NEW YORK (CNNMoney) -- U.S. stocks rallied Tuesday, kicking off the new year on a high note, as investors welcomed upbeat reports on economic activity around the world.

The Dow Jones industrial average (INDU) jumped 180 points, or 1.5%, to end at 12,397. The S&P 500 (SPX) gained 19 points, or 1.5%, to 1,277. The Nasdaq (COMP) added 43 points, or 1.7%, to 2,649.

The gains came after reports on manufacturing growth in China and India came in better than expected over the weekend. On Tuesday, a report showed U.S. manufacturing activity grew at a faster rate in December.

U.S. markets were closed Monday for the New Year holiday.

"There were no major negative headlines out of Europe, and we had some data suggesting the global economy is expanding," said Dan Greenhaus, chief global strategist at BTIG.

Investors scooped up shares of companies that would benefit from a strengthening global economy.

Bank stocks, which were among the worst performing sectors last year, led the Dow higher. Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500) and JPMorgan (JPM, Fortune 500) all posted strong gains. click here to read more

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