Wall Street gained on the first trading day due to stronger-than-expected manufacturing data and News Corporation's five-billion-dollar-bid for Dow Jones & Company.

The Institute for Supply Management said its manufacturing index in April registered 54.7, above the March reading of 50.9 and Wall Street's expectation of 51.

The prices paid index rose to 73 in April, compared to 65.5 the previous month while new orders, production and employment also improved significantly, according to the report.

Dow Jones & Company, publisher of The Wall Street Journal announced Tuesday that it has received a bid from News Corp. to buy the company for about 5 billion dollars, or 60 dollars a share.

Dow Jones said in a statement that its board, and members of the Bancroft family, the company's controlling shareholder, are "evaluating the proposal."

Shares of Dow Jones soared over 50 percent to 20.86 dollars, or 57.42 percent, on the New York Stock Exchange.

The Dow Jones industrial average closed at a record high after rising 73.39 points, or 0.56 percent, at 13,136.30.

The Standard & Poor's 500 Index was up 3.89 points, or 0.26 percent, at 1,486.26. The Nasdaq Composite Index was up 6.44 points, or 0.26 percent, at 2,531.53.

Source: Xinhua