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Dow trades 200 points higher at the open to kick off April trade on a high note

Mark DeCambre

U.S. stock indexes opened solidly higher on Monday, partly on the back of better-than-expected China manufacturing data, with investors hoping for bright spots amid fears of slowing global growth at the start of April and a second quarter. The Dow Jones Industrial Average rose 198 points, or 0.8%, at 26,128, the S&P 500 index gained 21 points, or 0.8%, at 2,856, while the Nasdaq Composite Index advanced 77 points, or 1%, to reach 7,805. The Caixin China manufacturing purchasing managers index rose to 50.8 in March from 49.9 in February, rebounding to expansionary territory for the first time in four months. Gains for the private gauge came on the heels of China's official manufacturing PMI released on Sunday, which rose to a six-month high of 50.5 in March from 49.2 in February. In corporate news, shares of Cal-Maine Foods were in focus after the egg producer and distributor reported fiscal third-quarter earnings that beat Wall Street expectations. Meanwhile, the yield of the benchmark 10-year Treasury note rose to 2.44% from 2.41% on Friday, coming as investor fears about global recession have paused momentarily. Bond prices and yields move in the opposite direction.