The Dow Jones Industrial Average hit a record intraday high, leading major U.S. indexes amid lighter trading volume before the Independence Day holiday.
The Dow rose almost 1% to a record 21,562.75 shortly at 11:34 a.m. ET, while the S&P 500 gained 0.35% to 2,431.84. The Nasdaq climbed from an open of 6,173.29 in the early going, but fell 0.44% to 6,112.84 shortly after noon. Energy led market gains Monday, followed by financials, with healthcare and tech underperforming.
The New York Stock Exchange will close early at 1 p.m. ET on Monday, July 3, and will be closed all Tuesday. Normal operations will resume on Wednesday, July 5.
In Europe, stocks were rising while Asian shares finished the session with gains following a survey that showed Japan's manufacturing outlook improving.
U.S. markets benefited from better-than-expected production data, with the ISM Manufacturing Index rising from 54.9 to 57.8 in June, beating expectations. The index, which measures factory construction, is at its highest level since August 2014, according to CNBC.
"While solid this month, the ISM Index seems to have oversold the relative strength in domestic production early on in the year," Lindsey Piegza, chief economist at Stifel Fixed Income, said in a note to clients.
The Markit US manufacturing PMI fell to 52.0 from 52.7 in May, the lowest since September, according to FactSet.
The Commerce Department's construction spending report, also released Monday, showed no increase in construction spending in May compared to expectations for a 0.3% increase, despite a shortage in available homes, particularly at the low end. Private residential construction spending decreased 0.6% in May, according to the report. The decline is the largest since July 2014, the Associated Press reported.