Wall Street was set to build on a strong performance from November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The Nasdaq rallied 4.5%.
Sentiment on Monday got a lift from stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate of 51.4.
Stocks rose slightly on Monday, the first trading day of December, as investors digested the latest news on trade after capping a month that featured blistering gains.