The New York Stock Exchange recorded gains overnight with the Dow Jones Industrial Average reaching its highest level since 2007.

“We have solid gains that are likely to be sustained, maybe with some slight pullbacks over coming months,” Eric Teal, North Carolina-based chief investment officer at First Citizens Bancshares, which oversees $4.5 billion, told Bloomberg.

The S&P 500 has risen 12% in the first quarter of 2012 as good US economic data continues to mount.

The S&P500 Index was up 0.75% overnight to 1419.04.

The Dow Jones Industrial Average was up 0.40% to 13264.50.

The NASDAQ Index was down 0.91% to 3119.70.

Seattle-based jetliner giant, Boeing (BA: US), rose 1.08% to $US75.17 and Alcoa (AA: US) increased 1.50% to $10.17.

West Texas Intermediate (WTI) oil gained 2.15% to $US105.23 a barrel overnight.

Gold was up 0.47% to be trading at $US1679.70 an ounce.

The Australian dollar was up slightly overnight, buying $US1.0411 at 8am AEST.

Europe

European share markets were up overnight after better-than-expected manufacturing data out of the United States and China.

National benchmark indexes gained in 12 out of 18 western-European stock markets despite a new figures stating unemployment had soared to 14-year highs. The jobless rate in the euro area rose to 10.8% in February, while European manufacturing contracted for an eighth month in a row.

London’s FTSE 100 closed up 1.85%  to 5874.89.

The German DAX was up 1.58% or 109.82 points to 7056.65.

The European Stoxx50 index rose 0.96% to 2501.18.

In London, publisher Pearson (PSON: LN) rose 4.81% to 1221.00 GB pence. It was reported late last week the company had a billion dollars to invest in educational assets in fast-growing markets in the developing world.