Stocks rise as Chinese manufacturing rebounds

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Associated Press

Posted on December 3, 2012 at 10:00 AM

Updated Monday, Dec 3 at 10:08 AM

NEW YORK (AP) — Stocks are rising in early trading on Wall Street, following European markets higher, following news that China's manufacturing sector grew last month for the first time in more than a year.

The Dow Jones industrial average was up 50 points at 13,075 shortly after the opening bell Monday.

The Standard & Poor's 500 index was up six at 1,422 and the Nasdaq composite index rose 18 points to 3,028.

An index measuring manufacturing in China showed expansion in November for the first time in 13 months.

Grocery store operator Supervalu jumped 7 percent following a report that private equity firm Cerberus is still considering buying parts of the company.

Deckers Outdoor, which makes Uggs boots, rose 10 percent after an analyst upgraded the stock.

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