U.S. stocks extend gains on upbeat data

U.S. stocks traded higher in the morning session Monday as U.S. new orders for manufactured goods in March turned positive.

At midday, the Dow Jones Industrial Average added 78.54 points, or 0.44 percent, to 18,102.60. The S&P 500 gained 9.29 points, or 0.44 percent, to 2,117.58. The Nasdaq Composite Index was up 24.14 points, or 0.48 percent, to 5,029.53.

New orders for manufactured goods in March increased 2.1 percent to 476.5 billion U.S. dollars, following seven consecutive monthly decreases, reported the U.S. Department of Commerce Monday.

Analysts thought that the data might signal the manufacturing sector is strengthening despite a stronger dollar.

In this week, markets mainly focused on April's official jobs report due out Friday.

On corporate news, shares of McDonald's edged up 0.1 percent around midday Monday after the company's chief executive Steve Easterbrook unveiled turnaround plan.

"Today we are announcing the initial steps to reset and turn around our business," Easterbrook said in a statement. "As we look to shape McDonald's future as a modern, progressive burger company, our priorities are threefold - driving operational growth, returning excitement to our brand and unlocking financial value."

U.S. stocks surged Friday on a rebound in healthcare and technology stocks amid mixed economic data from the country. Endite