US shares start the year with a rally

US markets experienced sharp gains on their first trading session in 2012 after survey showed better than expected manufacturing data. Dow Jones Industrial Average jumped 1.5% or 179.82 points at 12,397.38, S&P 500 Index climbed 1.6% or 19.46 points reaching 1,277.06 while Nasdaq Composite Index rose 1.7% or 43.57 points closing at 2,648.72.