[New York Stock Market] Three Major Indexes Close Higher Together... Bargain Buying + Improvement in US Manufacturing Index

The three major stock indices on the New York Stock Exchange closed higher together for the first time in a while. Amid strong bargain-hunting sentiment following the prolonged downturn since the end of last year, the improvement in U.S. manufacturing conditions to the highest level in six months supported buying sentiment.

On the 3rd (U.S. Eastern Time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 42,732.13, up 339.86 points (0.80%) from the previous session.

The Standard & Poor's (S&P) 500 index rose 73.92 points (1.26%) to close at 5,942.47, and the Nasdaq Composite surged 340.88 points (1.77%) to finish at 19,621.68.

For the first time in a while, the three major stock indices showed simultaneous gains, reigniting optimism. The improvement in the U.S. manufacturing index for December also supported investor sentiment.

The U.S. Institute for Supply Management (ISM) reported that the December Manufacturing Purchasing Managers' Index (PMI) was 49.3, exceeding market expectations.

Among individual stocks, Tesla surged 8.22%, shaking off some of the recent slump. Nvidia also jumped 4.45%, solidifying its position as the second-largest market capitalization.

U.S. Steel fell more than 6% after U.S. President Joe Biden blocked its acquisition by Nippon Steel.

By sector, all sectors showed gains. Consumer discretionary surged more than 2%, while real estate, technology, utilities, and industrials all rose more than 1%.