Stocks push higher as August trading begins amid signs of healing in manufacturing, housing

Stocks extend gains after manufacturing report

NEW YORK — Another dose of good economic news is sending stocks higher.

The Institute for Supply Management reports that while manufacturing activity slowed during July, it did so at the slowest pace in nearly a year. The ISM says its manufacturing index rose to a better-than-expected 48.9 from 44.8 in June. A reading above 50 indicates growth.

And the Commerce Department has reported a jump in residential building during June that lifted overall construction spending for the second time in three months. The report provided new evidence that the housing sector may be recovering.

Stocks were already rising before the reports, which sent the major indexes even higher.

The Dow Jones industrial average is up 80 at 9,252. The Standard & Poor’s 500 index is up 10 at 998, while the Nasdaq composite index is up 17 at 1,995.