NEW YORK, Feb 2 - U.S. stocks rose on Monday as investors awaited a report on the health of the manufacturing sector and sifted through earnings reports. The Institute for Supply Management is expected to report on its manufacturing index and the Commerce Department on construction spending at 10 a.m. (1500 GMT). The Commerce Department said early on Monday that U.S. consumers spent slightly less than expected in December but an upward revision to spending in November pointed to a reasonably good holiday shopping season. The Dow Jones industrial average <.DJI> rose 7.11 points, or 0.07 percent, to 10,495.18. The broader Standard & Poor's 500 Index <.SPX> was up 2.68 points, or 0.24 percent, at 1,133.81. The technology-laced Nasdaq Composite Index <.IXIC> added 6.76 points, or 0.33 percent, to 2,072.91. The ISM manufacturing index is forecast to rise to 64.0 in January, the strongest reading in 20 years after December's revised 63.4, according to economists polled by .
International Paper Co. said it swung to a profit from a loss. Medical device maker Boston Scientific Corp. and newspaper publisher Gannett Co. Inc. both posted higher quarterly earnings. International Paper, the world's largest forest products company, on Monday reported a quarterly profit compared with a loss a year earlier and said it is optimistic about demand and pricing in 2004 despite a slow start to the year. Its shares rose 23 cents to $42.50. Boston Scientific said fourth-quarter earnings rose more than 30 percent, lifted by strong demand for its cardiovascular devices and the weak dollar. Boston Scientific shares fell 48 cents, or 1.2 percent, to $40.31. Gannett shares fell 10 cents to $85.61 despite posting a quarterly profit that got a boost from an advertising gain at USA Today. Worldwide chip sales grew 18.3 percent in 2003, the World Semiconductor Trade Statistics group said. The U.S.-based Semiconductor Industry Association predicted strong sales for the industry in 2004, exceeding 19 percent. Personal spending rose 0.4 percent in December compared with analysts' forecast of a 0.5 percent gain. November's spending was revised upward to a 0.5 percent gain. The department said personal income rose 0.2 percent, in line with expectations.//