NEW YORK — U.S. stocks are gaining after reports showed that manufacturing in the U.S. and China expanded in June.
Netflix rose 6 percent after analysts at Goldman Sachs raised their outlook on the stock.
Regeneron climbed 7 percent after the French drugmaker Sanofi said it had raised its stake in the company. The two collaborate on drug research.
The Dow Jones industrial average rose 132 points, or 0.8 percent, to 16,960 as of noon Eastern time today. IBM led the Dow higher with a gain of 3 percent.
The Standard & Poor’s 500 index rose 13 points, or 0.7 percent, to 1,973. The Nasdaq composite gained 50 points, or 1.2 percent, to 4,459.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent.