Business

Snapshot: Investors cheer gain in key measure

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Stocks started November on a strong note as investors cheered an expansion in US manufacturing last month. The improvement came during what could have been a difficult month for the economy, with a partial government shutdown and a narrowly averted default on the government’s debt, which could have rattled markets. The Institute for Supply Management said its manufacturing index rose to 56.4, the highest since April 2011. Energy stocks lagged after Chevron reported that third-quarter income fell 6 percent, missing analysts’ estimates. The Container Store more than doubled on its first day of trading on the Big Board.