Stocks climb, led by health care companies and banks

Stocks set more records Monday as health care companies and banks continued to surge as investors grew more optimistic about the recovery in manufacturers.

Stocks got a boost after the Institute for Supply Management said U.S. factory activity hit a 13-year high in August as hurricanes disrupted supplies but drove up demand for manufactured goods. Investors snapped up shares of companies that are linked to more rapid economic growth, like banks and health care and industrial companies.

MGM Resorts shares fell after a man shot and killed at least 58 people and wounded more than 500 at a concert at MGM’s Mandalay Bay Hotel and Casino in Las Vegas. The stock lost $1.82, or 5.6 percent, to $30.77.

Gun manufacturers traded higher, as they often do following large shootings as investors wonder if the violence will lead to greater gun sales. Sturm, Ruger jumped $1.80, or 3.5 percent, to $53.50 and American Outdoor Brands, the parent of Smith & Wesson, rose 49 cents, or 3.2 percent, to $15.74.

The Standard & Poor’s 500 index rose 9.76 points, or 0.4 percent, to 2,529.12. The Dow Jones industrial average advanced 152.51 points, or 0.7 percent, to 22,557.60. The Nasdaq composite gained 20.76 points, or 0.3 percent, to 6,516.72. The Russell 2000 index of smaller-company stocks jumped 18.61 points, or 1.2 percent, to 1,509.47. All four indexes finished at record highs.