Investing.com - An upbeat U.S. construction gauge and better-than-expected data on car sales sent U.S. stocks rising on Monday.
At the close of U.S. trading, the Dow 30 rose 0.58%, the S&P 500 index rose 0.64%, while the Nasdaq Composite index rose 0.60%.
The S&P 500 VIX index, which measures the outlook for market volatility, was down 9.52% at 12.93.
The Census Bureau reported earlier that U.S. construction spending rose 1.1% in October from a month earlier, beating market estimates for a 0.6% gain after a 0.1% contraction in September.
It was the largest gain since May.
Investors were keeping an eye towards Friday, when the Bureau of Labor Statistics will release its November jobs report.
Elsewhere, Autodata reported earlier that auto sales hit 17.2 million in November, beating market estimates for a 16.7 million reading.
Separately, lower oil prices boosted stocks as well, as investors bet less money spent at the gasoline pump will translate into more holiday shopping this year and give the economy a jolt.
The Organization of Petroleum Exporting Countries said last week that it would keep its official production target unchanged at 30 million barrels a day, disappointing hopes the oil cartel would lower output to support the market.
The 12-member group is responsible for approximately 40% of global supply.
Concerns over weakening global demand combined with indications that OPEC producers will not cut output have weighed on prices in recent months as have the realizations that conflicts in the Mideast and in Eastern Europe have not disrupted supply as once feared.
Also on Tuesday, energy shares reacted to unconfirmed talk of Royal Dutch Shell A (NYSE:RDSa) launching a takeover bid for BP Plc (NYSE:BP).
Leading Dow Jones Industrial Average performers included Chevron Corporation (NYSE:CVX), up 2.05%, Exxon Mobil Corporation (NYSE:XOM), up 1.99%, and JPMorgan Chase & Co (NYSE:JPM), up 1.80%.
The Dow Jones Industrial Average's worst performers included AT&T Inc (NYSE:T), down 2.22%, Verizon Communications Inc (NYSE:VZ), down 1.84%, and McDonald's Corporation (NYSE:MCD), down 0.70%.
European indices, meanwhile, ended the day largely higher.
After the close of European trade, the Euro Stoxx 50 rose 0.17%, France's CAC 40 rose 0.25%, while Germany's DAX 30 fell 0.30%. Meanwhile, in the U.K. the FTSE 100 rose 1.29% on talk of a BP takeover.
On Tuesday, the U.S. is to release the ADP report on private-sector job creation as well as industry data on service-sector activity.