US STOCKS-S&P 500 closes at record after manufacturing data
* S&P 500 closes at record, discretionary names rally
* Ford shares advance after strong March auto sales
* Medicines Co tumbles after court ruling
* Indexes up: Dow 0.5 pct, S&P 0.7 pct, Nasdaq 1.6 pct (Updates to close)
By Ryan Vlastelica
NEW YORK, April 1 (Reuters) - U.S. stocks rose for a third straight session on Tuesday, with the S&P 500 ending at a record close, after positive data on factory activity indicated economic growth was gaining traction following a harsh winter.
Gains were broad, with areas of the market closely tied to the pace of economic growth among the day's leaders. Consumer discretionary stocks rose 1.4 percent while technology shares were up 1.3 percent.
Among other groups, the PHLX housing sector index rose 1.6 percent and the Nasdaq biotechnology index added 2.1 percent. The Dow Jones Transportation index rose 0.9 percent to a record.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.7 in March, its second straight monthly acceleration. However, the report was below the median forecast of 54.0. Continuación...