The Dow rose 156 points to close the first trading day of the year at 10,584.
The Institute for Supply Management, a trade group of purchasing executives, reported a fifth consecutive increase in its manufacturing index, the highest reading since April, 2006. This report outstripped the decline reported for construction spending.
It seems the market has speculated that the ISM report should pave the way for more manufacturing jobs that will help subdue the unemployment rates that have been climbing lately.