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Dow, S&P end at records, starting July with a bang

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NEW YORK - U.S. stocks rallied on Tuesday, with both the Dow and S&P 500 setting record closing highs on the first trading day in July as manufacturing activity picked up in the United States and Asia, increasing optimism about the global economy's health.

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The Dow Jones industrial average rose 129.25 points or 0.77 percent, to end unofficially at 16,956.85. The S&P 500 gained 13.07 points or 0.67 percent, to finish unofficially at 1,973.30. The Nasdaq Composite jumped 50.47 points or 1.14 percent, to close unofficially at 4,458.65. 

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