The Dow Jones Industrial Average climbed 559 points on Thursday after a surprisingly strong reading on US business activity. The S&P Global flash US composite PMI hit 56.0 in August, its highest level in 52 months, up from 54.5 in July. The services sector drove the gains with a PMI of 56.8, its strongest reading in 20 months, while manufacturing came in at 53.2. Employment growth accelerated and business expectations surged to a nine-month high, reinforcing the soft landing narrative for the US economy.
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