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

Investors largely shrugged off disappointing reports from labor and housing market. According to ADP employment report, U.S. private-sector employment surprisingly fell 10,000 in August, breaking a six-month run of increases.

Meanwhile, the U.S. Commerce Department reported that construction spending in July fell by one percent, twice as much as forecast, to the lowest level in ten years.

However, market staged a broad-based rally. All 30 Dow components closed higher, with Bank of America gaining over 6 percent.

Optimism lifted commodities and pressured on safe havens like the dollar.

A drop in gasoline and distillate fuels further affirmed crude futures' gains. Light, sweet crude for October delivery gained 1. 99 dollars, or 2.7 percent, to settle at 73.91 dollars a barrel on the New York Mercantile Exchange. Front month Brent crude rallied 1.71 dollars to settle at 76.35 dollars a barrel in London.

The dollar slid against major currencies on Wednesday as the market's risk appetite picked up. The euro rose to 1.2798 dollars from 1.2665 late Tuesday, and the British pound rallied to 1.5446 dollars from 1.5335.

In other trading, the dollar rose to 84.46 Japanese yen from 84. 07, edged lower to 1.0160 Swiss francs from 1.0164, and retreated to 1.0525 Canadian dollars from 1.0672 late Tuesday.