Japan Topix Heads for Seven-Week High on Yen, U.S. OptimismThe Standard & Poor��s 500 Index rose to a record, after erasing an early loss, as the Institute for Supply Management twice corrected the reading in its May manufacturing index.

The S&P 500 rose 0.1 percent to 1,924.96 at 4 p.m. in New York, reversing an earlier loss of as much as 0.4 percent. The Dow Jones Industrial Average added 26.46 points, or 0.2 percent, to 16,743.63 today, also reaching an all-time high. The Russell 2000 Index of smaller companies fell 0.5 percent.

The ISM originally said its May manufacturing index fell to 53.2 from 54.9 a month earlier, before correcting it twice, once to 56 and a second time to 55.4. Fifty is the dividing line between growth and contraction. The median forecast of economists surveyed by Bloomberg called for a gain to 55.5.

Source : Bloomberg