Stocks started 2011 on a high note Monday with all three key indexes hitting new multi-year highs on positive manufacturing and construction data.

The Nasdaq Composite rose 1.5 percent to 2,691.52, its highest point since November 2007, while the S&P 500 rose 1.1 percent to 1,271.84.

The Dow Jones Industrial Average rose 0.8 percent to 11,670.14, its highest level since June 2008.