Dow jumps 150, positive for year as Boeing climbs

U.S. stocks traded higher on Tuesday, the first day of trade for December, as investors eyed some data reports ahead of major central bank news expected later in the week.

The Dow Jones industrial average added more than 150 points soon after the open, climbing into positive territory for the year in intraday trade. Boeing contributed the most to gains, followed by UnitedHealth, Goldman Sachs and Travelers Cos.

Financials rose 1 percent to lead all S&P 500 sectors higher in morning trade.

"It's probably just some modest spillover effects from strength overseas overnight," said Ryan Larson, head of equity trading, U.S., at RBC Global Asset Management (U.S.).

European stocks traded mixed, while major Asian indexes closed higher. Japan's Nikkei topped the psychologically key 20,000 level for the first time in three months.

China's official manufacturing purchasing managers index showed a slight decline in November to 49.6, while the private Caixin/Markit China manufacturing PMI contracted for the ninth straight month in November at 48.6 but more slowly than in October.

The official services sector PMI rose to 53.6, indicating China is on track with a transition to a consumption-oriented economy.

The final read on euro zone manufacturing PMI for November was 52.8, up slightly from October's 52.3 print.

"I think if anything you could be seeing some modest optimism out of the ECB meeting Thursday. Expectation for stimulus almost always seems to grow ahead of a meeting," Larson said.

The U.S. Markit PMI for November was 52.8, above the flash read of 52.6 but below the final October print of 54.1.

Monthly auto sales are released throughout the day.

Traders also noted some support for stock gains from investors positioning for the last month of the year.

On Thursday, the European Central Bank (ECB) will announce its monetary policy decision and on Friday, the U.S. November non-farm payrolls are out.

Ahead of the report, Fed Chair Janet Yellen is scheduled to speak twice.