The Institute for Supply Management announced that
Non-Manufacturing Purchasing Managers' Index rose 0.2, to 53.7 in May from 53.5
in April. Economists predicted the index
to reach 53.6 last month. Any figure above 50.0 indicates industry expansion,
below indicates contraction. On this news stocks climbed. Dow Jones Industrial
Average added 0.10%, S&P 500 gained 0.33% and Nasdaq Composite rose 0.46%.