Stocks Rise on Manufacturing Data

By: Associated Press
By: Associated Press

New York, NY (AP) - U.S. stocks are finishing higher after strong manufacturing data and encouraging reports from Greece. Stronger gains earlier in the day faded by the closing bell, though.

The Dow Jones industrial average rose 84 points, or 0.7 percent, to close at 12,716. The broader Standard & Poors 500 index rose almost 12 points, or 0.9 percent, to close at 1,324. The Nasdaq rose 34 points, or 1.2 percent, to 2,848.

Rising stocks outnumbered decliners almost 5-to-1 on Wednesday.

Earlier in the day, the Dow was up 151 points.

Factories raised output in January by the most in seven months. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.

Stocks also got help from progress on debt negotiations in Greece.

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