We also had reports of weaker than expected manufacturing from theNewYork Fed EmpireStateManufacturing Survey and from the Philadelphia Fed ManufacturingIndex.
TheEmpireStatemanufacturingindex released by theNewYork Federal Reserve showed a reading of (negative)- 7.8 for June, compared with expectations for a positive 12.
The upbeat news from abroad helped lift U.S. stocks as investors shook off theEmpireStateIndex, a gauge of manufacturing in NewYork that came in at negative 7.7, indicating worsening conditions and a shakier outlook.