U.S. stocks are trading modestly higher at midday after a strong report on manufacturing overshadowed concerns about global growth.
A private survey of U.S. factory executives said Monday that manufacturing activity is rising more quickly as employment and output increase. Stocks opened lower but turned positive after the report.
The Dow Jones industrial average is up 49 points at 13,261 shortly before noon. The Standard & Poor's 500 index is up nine at 1,417. The Nasdaq composite index is up 16 at 3,107.
An earlier survey of Chinese factory executives slipped, making the first quarter reading its worst in three years. A similar survey in Europe indicated that manufacturing activity there is slowing. Unemployment in Europe rose.
The uncertain economic picture caused traders to buy ultra-safe Treasurys, pushing yields lower.