1st LD Writethru: U.S. stocks rally on upbeat data

U.S. stocks ended mildly higher Monday as U.S. new orders for manufactured goods in March turned positive.

The Dow Jones Industrial Average rose 46.34 points, or 0.26 percent, to 18,070.40. The S&P 500 advanced 6.20 points, or 0.29 percent, to 2,114.49. The Nasdaq Composite Index added 11.54 points, or 0.23 percent, to 5,016.93.

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.

The market, however, mainly focused on April's official jobs report due Friday.

At the annual meeting of the Columbus Economic Development Board, Federal Reserve Bank of Chicago President Charles Evans said that raising interest rates does not seem appropriate until next year due to the weak first-quarter U.S. economy.

Overseas stock markets increased broadly Monday. European equities posted solid gains, with German benchmark DAX index at the Frankfurt Stock Exchange rising 1.44 percent, as strong economic data in the eurozone among other positive elements put investors into a buying mood.

On corporate news, shares of McDonald's fell 1.71 percent to 96. 13 dollars apiece 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