Midday Report: Manufacturing Hits Five-Month High; Banks Boost Dow

Stocks held mixed with banking names boosting the Dow Jones Industrial Average, while tech laggards plagued the Nasdaq. Dow components Goldman Sachs (GS) - Get Report and JPMorgan (JPM) - Get Report rallied as President-elect Donald Trump filled out his Cabinet with picks presumed to be friendly to Wall Street. Manufacturing activity rose at a faster pace than expected, settling at a five-month high in November. The ISM Manufacturing Index was broadly stronger with growth seen in new orders, production and employment. Construction spending found growth again in October, climbing 0.5% after a flat reading in September. Activity was largely in line with estimates. Ford (F) - Get Report and General Motors (GM) - Get Report saw sales rise last month at a healthy clip, while Fiat Chrysler (FCAU) - Get Report suffered from a sharper drop than expected. Two additional selling days this November compared to the last made for favorable comparisons. TheStreet's Keris Lahiff reports from Wall Street.