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US: Stocks rise as eurozone data improves
[NEW YORK] US stocks opened higher Tuesday as improving economic data from the eurozone and higher US construction data offset weak manufacturing statistics from China.
About 40 minutes into trade, the Dow Jones Industrial Average was at 17,863.70, up 143.78 points.
The broad-based S&P 500 gained 14.42 at 2,094.83, while the tech-rich Nasdaq Composite Index advanced 29.10 to 5,137.77.
Eurozone data showed the purchasing managers index rose to 52.8 in November from 52.3, while unemployment data hit its lowest level in nearly four years in October.
In the US, Commerce Department statistics showed construction spending rose one percent in October compared with September, beating analyst expectations for an increase of 0.7 per cent.