U.S. Stocks Rise, Building on Soaring First Quarter

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New York, NY (AP) - U.S. stocks are closing higher after a positive report on U.S. manufacturing. The Dow Jones industrial average and Standard & Poor's 500 index hit multi-year highs.

The gains came on the first trading day after stocks finished their best first quarter in more than a decade.

The S&P 500 closed up 10 points at 1,418. The Dow closed up 52 at 13,264. The Nasdaq finished up 29 at 3,119.

The Institute for Supply Management said Monday that its index of manufacturing activity rose strongly last month. That overshadowed jitters about the global economy. Manufacturing indexes in China and Europe sank. Unemployment in Europe hit a euro-era peak.

About three stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3.5 billion shares.