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New York - Wall Street stocks opened with strong gains on Monday as traders return to work after two weeks of listless holiday trading.
The Dow Jones Industrial Average rose 66.29 points (0.57%) to 11 643.80 in opening trades, while the S&P 500 index, a broader measure of the market, was up 10.81 points (0.86%) to 1 268.45.
The tech-rich NASDAQ gained 26.96 points (1.02%) at 2 680.07.
"With strong overseas gains in Asia and Europe providing a foundation, Wall Street is entering the new year with a positive outlook, and this week's economic data could solidify those hopes," said Joseph Hargett of Schaeffer's Investment Research.
China on Saturday released data showing manufacturing growth eased last month, suggesting Beijing's attempts to cool the soaring economy could be working.
China has been struggling to tame the rapid expansion of its economy, which posted annualized growth of 9.6% in the third quarter of 2010, slowing from 11.9% in the first three months.
The red-hot pace of expansion has sent inflation to a two-year high of 5.1% and led Beijing to raise interest rates on December 25 for the second time in two months.
Traders were awaiting the release of key US manufacturing data shortly after the opening bell, which is expected to show an expansion in activity in December.
