Stocks were poised for their best week in year on Friday, with Dow and the Nasdaq up more than 1 percent, after data showed the manufacturing sector grew faster than expected in June.

The Dow Jones industrial average <.DJI> jumped 121.66 points, or 0.98 percent, to 12,536.00. The Standard & Poor's 500 Index <.SPX> gained 11.60 points, or 0.88 percent, to 1,332.24. The Nasdaq Composite Index <.IXIC> put on 28.54 points, or 1.03 percent, to 2,802.06.