Wall St rises on higher oil, data on tap

By IBTimes Staff Reporter | January 04 2010 9:40 AM

U.S. stocks moved up at the open on Monday, the first trading day of 2010, on a rise in crude oil and other commodity prices and ahead of data expected to show expansion in the manufacturing sector.

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Investors awaited construction spending data for November and the Institute for Supply Management's manufacturing index for December, which analysts forecast will both rise from the prior month. The data is due at 10 a.m. EST (1500 GMT).

The Dow Jones industrial average <.DJI> gained 72.17 points, or 0.69 percent, to 10,500.22. The Standard & Poor's 500 Index <.SPX> rose 8.85 points, or 0.79 percent, to 1,123.95. The Nasdaq Composite Index <.IXIC> jumped 27.82 points, or 1.23 percent, to 2,296.97.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)