NEW YORK, May 3 (Xinhua) -- Wall Street rebounded on Monday boosted by encouraging economic data.

The Commerce Department said Monday that U.S. consumer spending rose twice as fast as income in March, with personal income up 0.3 percent and spending up 0.6 percent, in line with the market expectations.

According to the Institute for Supply Management (ISM), its index of manufacturing in the U.S. rose to 60.4 in April from 59.6 a month earlier, higher than estimates and showing the manufacturing sector is continuing to lead the economic recovery.

Shares of big manufacturers, including Boeing Co, Caterpillar Inc and 3M Co, rose after the ISM report.

Sentiment was also buoyed after Continental Airlines and United Airlines confirmed a 3.15-billion-dollar deal. UAL Corp, the parent of United Airlines, agreed to buy Continental Airlines in stock that would form the world's largest airline.
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