US stocks extended January's rally, climbing more than 1 percent, on Wednesday after upbeat global manufacturing data and as Greece neared a long-delayed deal on its debt. An index of the US manufacturing sector rose in January to its highest level since June, an industry group said, while China's factory sector expanded slightly, confounding expectations for a contraction.
Germany recorded its first rise in manufacturing output in four months. US and European banks rallied on the news. Bank of America gained 3.6 percent to $7.39 and Citigroup rose 3.8 percent to $31.88.
Homebuilder shares advanced after US data showed construction spending surged in December to its highest level in more than 1-1/2 years. An index of housing stocks rose 1.5 percent.
The Dow Jones industrial average rose 138.65 points, or 1.10 percent, to 12,771.56. The S&P 500 Index gained 14.33 points, or 1.09 percent, to 1,326.74. The Nasdaq Composite added 32.03 points, or 1.14 percent, to 2,845.87.
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