Wall St. climbs, led by energy, healthcare; Nasdaq 100 hits 15-year high
U.S. stocks added to their recent run with gains across all sectors on Monday, led by increases in the beaten-down energy group and the acquisition-driven healthcare industry.
The gains on the first trading day of the month followed the best monthly performance of the major indexes in four years in October. The Nasdaq 100 .NDX on Monday closed at its highest level in more than 15 years.
Data on Monday showed U.S. manufacturing activity in October sank to a 2-1/2-year low, but a rise in new orders offered encouragement. Elsewhere, factory activity in Germany beat economists' estimates, and manufacturing in Central and Eastern Europe kept up a robust pace in October.
The Dow Jones industrial average .DJI rose 165.22 points, or 0.94 percent, to 17,828.76, the S&P 500 .SPX gained 24.69 points, or 1.19 percent, to 2,104.05 and the Nasdaq Composite .IXIC added 73.40 points, or 1.45 percent, to 5,127.15.
The S&P, which is up nearly 13 percent since hitting its lowest level for the year in August, broke through the 2,100 barrier, bringing it nearer to its all-time closing high of 2,130.82 in May.
As the U.S. earnings seasons winds down, investors are looking to economic data, including this Friday's employment report, for clues as to whether the Federal Reserve will raise interest rates when it meets in December.
The S&P energy index .SPNY rose 2.4 percent. Oil majors Exxon (XOM.N) and Chevron (CVX.N) were two of the three biggest drivers of positive performance for the Dow after both companies posted better-than-expected results on Friday. Chevron gained 4.5 percent to $94.96 and Exxon finished up 3.1 percent at $85.28.
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