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Stocks extend rally, S&P at new high as data signals growth
Global equity markets edged higher on Thursday, with the S&P 500 hitting an all-time high, as U.S. and German data drove confidence on economic growth and helped extend a stock rally. Data on German private-sector growth reassured investors about the outlook for Europe's biggest economy following a soft patch, while a batch of U.S. reports showed economic strength early in the third quarter. Markit's flash composite Purchasing Managers' Index for Germany was 54.9 for August, well above the 50 mark that indicates economic expansion, a relief after German GDP data last week showed a surprise contraction in the ... (full story)
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