The major averages started the new month on a high note as tech shares outperformed.
Eli Lilly trial and strong manufacturing data also lift market, an experimental coronavirus antibody treatment that may prevent the virus from spreading among U.S. nursing home staffers and residents. The stock gained 1.70%.
Stocks got a boost from better-than-expected manufacturing data. The Institute for Supply Management's manufacturing PMI rose to 54.2 in July, topping a Dow Jones estimate of 53.8.Investors will keep an eye on Washington as lawmakers try to make progress on a new coronavirus stimulus package.
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