Monday, August 2, 2010

Economy improving

New York--According to the New York Times, August got off with a strong start on Wall Street this afternoon with a surge insiders say is fueled by positive european bank earnings news. Also contributing to the surge: American manufacturing that picked up significant ground in July.

Also contributing to the wave of optimism is Standard & Poor's index of 500 stocks climbed more than 24 points, or 2.2 percent, while the Dow industrials gained 208.44 points, or 1.99 percent, to close at 10,674.38.

U.S investors are seeing positive signs in the Institute for Supply Management's survey, which fell less than expected in July, and in an unexpected rise in construction spending reported for June.

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