The US markets ended higher on Monday following the release of a report from the Institute for Supply Management (ISM) showing that manufacturing activity in the U.S. unexpectedly expanded for the first time in 12 months in January. The ISM said its manufacturing PMI jumped to 52.6 in January from 47.9 in December, with a reading above 50 indicating growth. The street had expected the index to inch up to 48.5. The upbeat economic data has helped traders shrug off lingering trade tensions along with renewed uncertainty over U.S. monetary policy. Besides, investors were braced for Labor Department’s monthly jobs report due on Friday. Sector wise, Networking, semiconductor and retail stocks were remained in limelight, while energy stocks have moved notably lower amid a steep drop by the price of crude oil.
Dow Jones Industrial Average rose 515.19 points or 1.05 percent to 49,407.66, Nasdaq increased 130.292 points or 0.56 percent to 23,592.107 and S&P 500 added 37.41 points or 0.54 percent to 6,976.44.
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