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U.S. stocks greet the new year with broad gains

The Wall Street entrance of the New York

The Wall Street entrance of the New York Stock Exchange in Manhattan on Oct. 2, 2014. Credit: AP / Richard Drew

U.S. stocks broke a three-day losing streak Tuesday and ushered in the new year with broad gains.

ON WALL STREET: At the close, the Dow was up 119.3 points, about 0.6 percent, at 19,881.8. The Standard & Poor’s 500 index gained 19 points, about 0.9 percent, to 2,257.8, and the Nasdaq composite was up nearly 46 points, about 0.9 percent, at 5,420.1.

OIL PRICES: As markets closed, benchmark U.S. crude was down $1.48 at $53.18 per barrel on the New York Mercantile Exchange. In London on the Intercontinental Exchange Europe, Brent crude, used to price international oils, was down $1.17 cents at $55.65 a barrel.

MANUFACTURING ACTION: The manufacturing sector continued its recovery and ended 2016 on a strong note. The Institute for Supply Management said its manufacturing index rose to 54.7 in December, its highest reading of the year. That was the fourth straight month of expansion and the ninth out of the last 10. The result was a bit stronger than analysts expected.

With Newsday staff

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