VaYank5150
Gold Member
NEW YORK - The stock market is extending its summer rally as August brings more upbeat economic data.
Reports on manufacturing and housing sent stocks soaring Monday, hurling the Standard & Poors 500 index past 1,000 for the first time since early November. All the major indexes rose more than 1 percent.
The Institute for Supply Management said that while manufacturing activity slowed during July, it did so at the slowest pace in nearly a year. The private trade group said its manufacturing index rose to a better-than-expected 48.9 from 44.8 in June. A reading above 50 indicates growth.