US STOCKS-Wall St climbs to record after manufacturing data
* Factory data shows expansion
* S&P hits record high
* Medicines Co tumbles after court ruling
* Indexes up: Dow 0.43 pct, S&P 0.42 pct, Nasdaq 1.17 pct (Updates to open; adds data, quote)
By Chuck Mikolajczak
NEW YORK, April 1 (Reuters) - U.S. stocks opened the second quarter on a higher note on Tuesday, with the S&P 500 hitting a record high, after data on manufacturing indicated economic growth was gaining traction after a harsh winter.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.7 in March, its second straight monthly acceleration, from February's read of 53.2 but below the median forecast of 54.0.
"Basically in line (with expectations), but again it shows we are coming out of this winter chill," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
"Economic growth is going to accelerate in the coming months and confirm the slowdown we had in the first quarter was related to weather factors." Continuación...