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New York - Wall St stocks Tuesday barrelled higher in mid-morning trade following strong US auto sales for June and a mixed bag of other economic data.
About 90 minutes into trade, the Dow Jones Industrial Average gained 120.52 points (0.72%) to 16 947.
The broad-based S&P 500 rose 11.64 (0.59%) to 1 972, while the tech-rich Nasdaq Composite Index jumped 46.88 (1.06%) to 4 455.
Automakers General Motors, Ford Motor and Chrysler all bested expectations for June US sales.
GM, for example, reported a one percent rise in sales to 267 461, much better than the 8.5% decline forecast by online shopping site Edmunds.com. GM shares rose 2.0%.
The Commerce Department reported US construction spending in May increased a less than expected 0.1%.
The closely watched Institute for Supply Management purchasing managers index of US manufacturing activity inched 0.1 point higher in June to 55.3, under the 0.4 point rise projected. Still, a reading above 50 indicates growth.
Other data showed Chinese manufacturing activity grew in June, while eurozone unemployment dipped in May.
Microblogging site Twitter jumped 4.1% on reports it appointed former Goldman Sachs banker Anthony Noto as chief financial officer.
Video-streaming company Netflix jumped 5.8% on an upgrade from Goldman Sachs.
Computer giant Hewlett-Packard announced it reached a settlement in a shareholder lawsuit over its 2011 acquisition of British software firm Autonomy, which was overvalued due to accounting irregularities. Terms were not disclosed. HP rose 1.8%.
Dow component General Electric announced it acquired for an undisclosed sum British company Monsal, which works to reduce energy use in wastewater treatment. GE shares rose 0.4%.
Bond prices fell. The yield on the 10-year US Treasury increased to 2.55 percent from 2.52 percent Monday, while the 30-year advanced to 3.38% from 3.34%. Bond prices and yields move inversely.
