Japanese economy released its final Industrial Production index reading for the month of April, where the reading came at 0.9% compared with a previous reading of 1.7%.

At the same time, annualized Industrial Production reading came at -3.4% in April, compared with a previous reading of -2.3% a year earlier.

Meanwhile, Capacity utilization index reading in Japan came at 1.6% in April’s final reading, compared with a previous reading of -0.8%.

The Reserve Bank of Australia released its meeting minutes concerning the month of June, where the bank sees slower growth pace in Australia.

From another side, RBA noted that housing sector notice a slight improvement amid the lower interest rates, adding that lower wages supported in controlling the inflation.

Meanwhile, RBA noted that Australian Mining sector near its highest levels, while employment still needs further support during the current period.

U.S. stocks opened and closed broadly higher Monday, as investors awaited Wednesday`s Fed policy meeting, with increasing confidence that the Fed won`t start tapering in super-easy stimulus while that today we saw cheerful manufacturing data released.

In fact n fact Manufacturing activity in the New York region rebounded in June, highly above analysts` estimates, however remained weak in details, as new orders and shipments decreased.

The Empire State manufacturing index improved in June to 7.84 from negative 1.43 in May, New York Federal Reserve said. Analysts had expected a stagnant reading.

The Dow Jones Industrial Average rose 0.73% to 15179.80. The S&P 500 index climbed 0.76% to 1639.04. The NASDAQ composite index rose 0.83% to 3452.13 points. As of 16:15 p.m. ET

Equities got an extra boost from a better-than-expected reading on manufacturing activity in the New York area. The Federal Reserve Bank of New York`s June Empire State index came in at 7.84, above an expected reading of zero.

The Fed will hold its two-day policy meeting beginning tomorrow, with Bernanke scheduled to speak after the central bank’s decision on July 19. Investors have been scrutinizing economic data to determine whether growth is strong enough to prompt the bank to scale back stimulus measures.

Investors will be looking for more clarity on the Fed`s intentions.

Economists` expectations see that Ben Bernanke will calm fears of over-zealous tapering after the end of the meeting on Wednesday.