国际英语新闻：U.S. stocks enter September with big rally

NEW YORK, Sept. 1 (Xinhua) -- Leaving the worst August in ten years behind, the U.S. stocks started September with a strong rally on Wednesday as market confidence in global recovery was restored.

Mounting concerns about the health of the economic recovery pressured all three major indexes sharply lower last month, posting first down August in five years and the worst August since 2001.

But a series of upbeat economic data from both the United States and overseas markets boosted sentiment. The Dow Jones industrial average jumped more than 250 points, while the Standard & Poor's 500 index and the Nasdaq composite index rallied nearly three percent, all refreshing the largest daily gain since early July.

Graphics shows European-U.S.main Stocks markets data on Sept.1, 2010.

The Dow rallied 254.75 points, or 2.54 percent, to 10,269.47. The S&P 500 gained 30.96 points, or 2.95 percent, to 1,080.29 and the Nasdaq surged 62.81 points, or 2.97 percent, to 2,176.84.

Stocks were set for a higher opening after data from China and Australia sent overseas equity markets rising.

China's Federation of Logistics and Purchasing said on Wednesday that purchasing managers indexes climbed after three straight months of drops, showing the country's manufacturing sector was still expanding. Meanwhile, government data showed that the Australian economy grew in the second quarter at its fastest pace in three years, exceeding economists' expectation.

Major indexes surged further after the Institute of Supply Management's manufacturing figures showed an unexpected rise in U. S. manufacturing activity in August. The index rose to 56.3 compared with expectations of a drop to 52.8.