NEW YORK (AFP) ? US stocks were higher in morning trade Friday for the fifth straight day buoyed by better-than-expected data on the performance of the manufacturing sector in June.
In thin trade ahead of the long July 4 holiday weekend, at 1500 GMT the Dow Jones Industrial Average had added 109.81 points (0.88 percent) to 12,524.15.
The broader S&P 500 gained 9.37 (0.71 percent) to 1,330.01, while the tech-heavy Nasdaq Composite was up 22.20 points (0.80 percent) at 2,795.72.
The Institute of Supply Management said the US manufacturing sector picked up pace in June hinting at a pickup in the economy at the end of a slumping second quarter.
The ISM purchasing managers index for the manufacturing sector climbed 1.8 percent in June to a better-than-expected 55.3, from 53.5 in May.
But that came after a sharp seven percent drop in May from April, and the June index remained far below the 60-plus level achieved in the first four months of the year.
Specialty truck maker Oshkosh Corp was up 12.3 percent on news that raider Carl Icahn had accumulated a 9.5 percent stake in the company and reportedly plans to pressure management to deliver more to shareholders.
Microsoft and Apple were up 0.1 percent and 0.4 percent respectively after their consortium won an auction for the huge, valuable patent assets of bankrupt Nortel with a $4.5 billion bid.
The shares of Google, whose bid failed, were 1.7 percent higher. Intel, another losing bidder, was up 1.2 percent.
Bond prices fell. The yield on the 10-year US Treasury note rose to 3.20 percent from 3.16 percent late Thursday while that on the 30-year bond edged upwards to 4.40 percent from 4.38 percent.
Bond prices and yields move in opposite directions.
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