U.S. markets finished higher on Monday, pushing the S&P 500 index above 1,000 for the first time in nine months, and the Nasdaq above 2,000 for the first time since early October.

Canadian financial markets were closed for a civic holiday.

U.S. stocks got a big boost at the start of the day from data showing the manufacturing sector edged closer to growth.

The U.S. Institute for Supply Management said its index of national factory activity rose to 48.9 in July, the highest level since August 2008. While the reading was below 50, the level separating contraction from expansion, it was higher than analysts had expected.

The Dow Jones industrial average jumped 114.95 points, or 1.25%, to 9,286.56. The S&P 500 Index added 15.15 points, or 1.53%, to 1,002.63. The Nasdaq composite index gained 30.11 points, or 1.52%, to 2,008.61.

The S&P 500 is now up 48% since hitting a 12-year closing low on March 9.

In U.S. banking news, Bank of America Corp agreed to pay US$33 million to settle charges by the U.S. Securities and Exchange Commission that the bank made false and misleading statements to investors about bonuses at Merrill Lynch & Co. Bank of America acquired Merrill Lynch on Jan. 1.

IE