Stocks start November on a positive note

NEW YORK - The stock market started November on a strong note as investors reacted to an expansion last month in U.S. manufacturing.

The Institute for Supply Management reported that its manufacturing index increased to 56.4, the highest level since April 2011. That was better than the 55.1 figure economists expected, according to financial data provider FactSet.

The Dow Jones industrial average rose 69.80 points, or 0.45 percent, to 15,615.55. The Standard & Poor's 500 index rose 5.10 points, or 0.29 percent, to 1,761.64. The Nasdaq composite rose 2.34 points, or 0.06 percent, to 3,922.04.

Energy stocks lagged the market after Chevron reported that its third-quarter income fell 6 percent, missing analysts' estimates, due to weakness in the company's oil-refining business. Chevron fell $1.95, or 1.6 percent, to $118.01.

The energy sector was also weighed down by a drop in the price of oil. Crude oil fell $1.77, or 1.8 percent, to $94.61 a barrel.

In the bond market, the yield on the 10-year Treasury note rose to 2.62 percent from 2.56 percent.

On Friday morning, the Nasdaq's options market was halted due to a technical glitch. Regular stock trading was not affected.

Among stocks making big moves:

The Container Store more than doubled on its first day of trading on the New York Stock Exchange. The company raised $225 million in its initial public offering, pricing 12.5 million shares at $18 each. The stock soared from $18.20 to $36.20.

First Solar jumped $8.83, or 18 percent, to $59.14. The solar-panel maker said it had an adjusted profit of $2.28 per share for the third quarter, blowing past analysts' estimates of $1.13 per share, according to FactSet.