U.S. stocks finished higher on Tuesday, with all three major indexes rising more than 1 percent, as a report showed U.S. manufacturing activity grew at a faster rate in December. In world markets, European stocks ended higher, led by the FTSE 100 in Britain rising 2 percent. Asian markets also ended higher, as the Hang Seng in Hong Kong rose 2.4 percent. In U.S. economic news, the Commerce Department said construction spending rose 1.2 percent in November, after a decline of 0.2 percent in October. Meanwhile, the Institute of Supply Management's survey of manufacturing purchasing managers rose to 53.9 from 52.7. The U.S. dollar fell against the euro and fell against the yen. Light sweet crude oil for February delivery rose $4.20 to $103.03 a barrel on the New York Mercantile Exchange. Gold futures rose $33.70 to $1,600.50 an ounce. The Dow Jones industrial average rose 179.82, or 1.5 percent, to 12,397.38. Bank stocks led the Dow higher, as Bank of America, Citigroup, and J.P. Morgan all posted strong gains. The broader Standard & Poor's 500 index rose 19.46, or 1.6 percent, to 1,277.06. The technology-heavy Nasdaq composite index rose 43.57, or 1.7 percent, to 2,648.72.
