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NEW YORK (AP) — Stocks are surging after surprisingly strong growth in U.S. and Chinese manufacturing allayed worries about the global economy.
The Institute for Supply Management’s manufacturing index grew to 56.3 in August from 55.5 in July. Economists had been expecting a decline.
The positive report comes after a series of weak indicators on the U.S. economy got investors worried that the domestic recovery was losing steam.
Stocks were already climbing Wednesday after a report out of China showed that manufacturing was also growing in that country.
The Dow Jones industrial average is up 221, or 2.2 percent, at 10,237. The S&P 500 is up 26, or 2.5 percent, at 1,075, while the Nasdaq composite is up 52, or 2.5 percent, at 2,166.
Business
Stocks kick off new month with strong gains
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World workers express anger, gloom on May Day
In the United States, demonstrations, strikes and acts of civil disobedience were planned, including what could be the country's most high-profile Occupy rallies since the anti-Wall Street encampments came down in the fall.
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Business Spotlight: Pool business branches out to Limestone County
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Business Spotlight: Sara Wood, MedWest Community Care
To find out more about business spotlights in The News Courier, contact Lora Scripps at 256-232-2720 ext. 104 or email lora@athensnews-courier.com.
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BUSINESS SPOTLIGHT: Bojangles’ Famous Chicken n’ Biscuits
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Farmers Federation offers scholarship to local students
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Kazek honored for columns in CNHI contest
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Carter named Gas Person of the Year
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GE to hire 5,000 veterans over next 5 years
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World workers express anger, gloom on May Day


