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GLOBAL MARKETS-Oil, stocks rally on strong manufacturing dat

REUTERS -- * Stocks rally globally on better-than-expected U.S. data

* Oil hits $74 a barrel as U.S. manufacturing data shines

* Government debt prices fall on signs of global growth

* China data also revives appetite for riskier assets (Updates with close of U.S. markets)

By Herbert Lash

NEW YORK, Sept 1 (Reuters) - Global stocks posted their biggest percentage gain this summer on Wednesday after U.S. and Chinese manufacturing data eased worries about the world's flagging economy and helped spur a rally in commodities.

The U.S. dollar and Japanese yen fell broadly after the release of the manufacturing data and on news that Australia's economy grew in the second quarter at its fastest pace in three years. For details see: [ID:nN01127275]

Oil rose more than 3 percent to above $74 a barrel and

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Submitted Sep 02, 2010 By: OnTheWater

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JimTee Champion Author Tampa Posts:2,322 Points:1,189,725 Joined:Apr 2006	Message Posted: Sep 4, 2010 8:39:10 AM Ignore JimTee Report Abuse It boggles my mind why oil prices can't remain at one price until a "significant event" happens. Sort of like the price of other consumable goods (food, medicine, toilet paper or even your rent check...). OH that's right, it would put a lot of people out of work (speculators, investors, journalists, ....).
Chris46 Champion Author Dayton Posts:17,130 Points:1,672,420 Joined:Sep 2005	Message Posted: Sep 2, 2010 11:40:30 PM Ignore Chris46 Report Abuse So there goes our "cheap" gas after Labor Day!
WCCurtis Champion Author San Bernardino Posts:3,304 Points:1,360,820 Joined:Oct 2005	Message Posted: Sep 2, 2010 6:05:01 PM Ignore WCCurtis Report Abuse Today, a barrel of Crude Oil closed up $1.11 to $75.02.
t_flor Champion Author Illinois Posts:2,195 Points:720,890 Joined:Jul 2008	Message Posted: Sep 2, 2010 5:14:15 PM Ignore t_flor Report Abuse I hate price jump Tuesdays!
LuckyD43 Champion Author Long Island Posts:18,727 Points:1,731,430 Joined:Apr 2005	Message Posted: Sep 2, 2010 4:32:45 PM Ignore LuckyD43 Report Abuse The price of oil may go up one day and down the next, but the price of gas never changes.
lucky69 Champion Author Austin Posts:2,281 Points:1,061,235 Joined:May 2008	Message Posted: Sep 2, 2010 4:30:31 PM Ignore lucky69 Report Abuse That is a good price, but I would like to see it down @ $70 a barrel
Ken2OD Champion Author Grand Rapids Posts:6,673 Points:1,506,000 Joined:Dec 2005	Message Posted: Sep 2, 2010 4:26:50 PM Ignore Ken2OD Report Abuse Up a buck, down a buck. Who even gives a darn any longer?
HEBster Champion Author Kentucky Posts:6,474 Points:1,915,715 Joined:May 2006	Message Posted: Sep 2, 2010 4:26:01 PM Ignore HEBster Report Abuse Up & Down...
aarrrt Champion Author San Diego Posts:5,422 Points:1,211,190 Joined:May 2008	Message Posted: Sep 2, 2010 4:19:36 PM Ignore aarrrt Report Abuse If these clowns think the recession is over they are on drugs. Maybe if they climb down from those high rise condos they'd see the real story.
JoeKR Champion Author New Jersey Posts:7,243 Points:1,415,465 Joined:Feb 2006	Message Posted: Sep 2, 2010 4:17:09 PM Ignore JoeKR Report Abuse I think the speculators are on a fool's errand! Inventories are still up - we're driving less and a rise in pump prices won't fix that problem for them.
RoadhogMA Champion Author Boston Posts:4,209 Points:895,045 Joined:Dec 2008	Message Posted: Sep 2, 2010 4:15:56 PM Ignore RoadhogMA Report Abuse A Roller coaster
Bajabugster Veteran Author New Mexico Posts:307 Points:107,490 Joined:Jun 2007	Message Posted: Sep 2, 2010 4:14:33 PM Ignore Bajabugster Report Abuse As long as the world lets speculators run up oil prices well ahead of any real recovery, we will never recover. The notion that expectations of future demand dictates higher prices now and not at the time of the actual demand is utterly ridiculous. If GM thought they would sell more cars next year, and jacked up the price of this years model because of the anticipated demand, nobody would be buying their cars, with oil we have no choice, well except for world powers to band together and disallow commodities trading except for legitimate producers and end users. Things we can't do with out shouldn't be used for poker chips on Wall Street.
Toppers Champion Author Atlanta Posts:6,673 Points:2,006,475 Joined:Mar 2005	Message Posted: Sep 2, 2010 4:14:06 PM Ignore Toppers Report Abuse Risin' locally N the ATL...
ricker8 Champion Author Ontario Posts:3,128 Points:675,325 Joined:Oct 2008	Message Posted: Sep 2, 2010 4:10:12 PM Ignore ricker8 Report Abuse all of this based on speculation that the recession is over or at least headed upward, just a lot of bull!
uglytom Champion Author Florida Posts:5,673 Points:1,187,885 Joined:Jul 2007	Message Posted: Sep 2, 2010 4:09:42 PM Ignore uglytom Report Abuse What a load of ....!
virginia52 Champion Author Alaska Posts:5,737 Points:1,129,665 Joined:May 2007	Message Posted: Sep 2, 2010 4:09:42 PM Ignore virginia52 Report Abuse Oh brother the traders and speculators are dancing in the streets I'm sure.
bell05 Champion Author Atlanta Posts:6,874 Points:1,408,635 Joined:Jun 2005	Message Posted: Sep 2, 2010 4:09:13 PM Ignore bell05 Report Abuse You got it Bajabugster. The old yoyo.
Bajabugster Veteran Author New Mexico Posts:307 Points:107,490 Joined:Jun 2007	Message Posted: Sep 2, 2010 4:03:53 PM Ignore Bajabugster Report Abuse It amazes me that all it takes for a rally in the markets is some report that says the recession will be over tomorrow, the amazing part is that most of the time the reports are doctored to make things look better for the benefit of a few big boy traders. This rally won't last long, as soon as the big boys decide to sell the bottom will fall out, just like it does every two weeks or so.
Paw5X Champion Author Gary Posts:7,744 Points:1,878,220 Joined:May 2005	Message Posted: Sep 2, 2010 3:56:01 PM Ignore Paw5X Report Abuse Maybe months ahead but just went up here and may even go higher now with the oil rig explosion.
geoutpb Champion Author Midland Odessa Posts:2,792 Points:709,280 Joined:Dec 2006	Message Posted: Sep 2, 2010 3:55:24 PM Ignore geoutpb Report Abuse As China and India use more fuel, the price for oil will continue to rise.
Broncos Sophomore Author Honolulu Posts:195 Points:337,310 Joined:Oct 2005	Message Posted: Sep 2, 2010 3:54:15 PM Ignore Broncos Report Abuse what's 1% 2% or whatever, does it really matter to the end consumer?
MizB Champion Author Sacramento Posts:1,747 Points:449,595 Joined:Apr 2006	Message Posted: Sep 2, 2010 3:52:23 PM Ignore MizB Report Abuse OK--so the previous article said "some economists predict that it (price of gas) could drop much further in the months ahead." But this article says the price of oil is higher because of better manufacturing data. It's a toss-up as to who is right.
balljars Champion Author Michigan Posts:6,135 Points:1,217,150 Joined:Aug 2008	Message Posted: Sep 2, 2010 3:47:35 PM Ignore balljars Report Abuse Its about time.
saleboss Champion Author Phoenix Posts:2,857 Points:964,560 Joined:Feb 2006	Message Posted: Sep 2, 2010 3:47:27 PM Ignore saleboss Report Abuse Does this mean the recession is over? I can't see anything getting better yet!!
truckguy115 Champion Author Orange County Posts:1,302 Points:185,795 Joined:Apr 2008	Message Posted: Sep 2, 2010 3:46:32 PM Ignore truckguy115 Report Abuse no surprise oil went up. fuel will follow immediately after.
blkST1 Rookie Author Indiana Posts:24 Points:54,180 Joined:Aug 2008	Message Posted: Sep 2, 2010 3:46:26 PM Ignore blkST1 Report Abuse Oh so if you kept or recently got a job you get screwed when you buy gas, what the hell. They look at it like if your making money you should have it taken from you immediately . this economy will NEVER recover when you have bullshit greed like this!
hank1326 Champion Author Los Angeles Posts:6,691 Points:1,279,415 Joined:Jun 2008	Message Posted: Sep 2, 2010 3:45:42 PM Ignore hank1326 Report Abuse Recovery is nowhere in sight.
LittleBlueCarNY Champion Author Albany Posts:1,474 Points:654,595 Joined:Apr 2008	Message Posted: Sep 2, 2010 3:43:57 PM Ignore LittleBlueCarNY Report Abuse Soon gas prices will be going up, too.
MJIOWA Champion Author Iowa Posts:2,619 Points:641,345 Joined:Nov 2009	Message Posted: Sep 2, 2010 3:43:22 PM Ignore MJIOWA Report Abuse LOOK OUT
sdbaroon Champion Author Scranton Posts:2,363 Points:1,034,770 Joined:May 2004	Message Posted: Sep 2, 2010 3:35:32 PM Ignore sdbaroon Report Abuse It's the never ending up and down. Some good news somewhere in the economy and the price of oil and gas goes up. Then the market corrects itself back down when the economy can't handle the upward tick in oil and gas prices!
jeromehasbargen Champion Author Minnesota Posts:3,198 Points:626,670 Joined:Jan 2009	Message Posted: Sep 2, 2010 3:30:48 PM Ignore jeromehasbargen Report Abuse If oil stocks are up that probably means that the gas prices are going to be going up again too.
pcon34 All-Star Author Indiana Posts:895 Points:938,430 Joined:Dec 2005	Message Posted: Sep 2, 2010 3:23:26 PM Ignore pcon34 Report Abuse So some small gains in manufacturing, did they also notice that home sales, new home starts, and auto sales are still plummeting.
applejoe Champion Author Twin Cities Posts:3,630 Points:766,320 Joined:May 2001	Message Posted: Sep 2, 2010 3:19:32 PM Ignore applejoe Report Abuse Gas is on the rise here in the twin cities.
ThatHunt Champion Author Dallas Posts:4,487 Points:1,627,290 Joined:Jul 2006	Message Posted: Sep 2, 2010 3:18:19 PM Ignore ThatHunt Report Abuse Money and more money.
zee10 Veteran Author California Posts:362 Points:47,200 Joined:Mar 2010	Message Posted: Sep 2, 2010 3:17:04 PM Ignore zee10 Report Abuse They should have never let people invest in oil in the stock market.
Bud122CA Champion Author California Posts:5,213 Points:1,145,860 Joined:Jul 2008	Message Posted: Sep 2, 2010 3:08:18 PM Ignore Bud122CA Report Abuse It's going down here in N.Ca. right now but I'm sure it will change soon and go back up.
humancry Champion Author Michigan Posts:3,269 Points:733,065 Joined:Nov 2006	Message Posted: Sep 2, 2010 3:04:20 PM Ignore humancry Report Abuse These annalists and speculators as usual sending fear signals. To fluctuate the profit of the dollar in there favor...
Gramps001 Champion Author North Carolina Posts:3,921 Points:1,038,520 Joined:Feb 2007	Message Posted: Sep 2, 2010 3:04:06 PM Ignore Gramps001 Report Abuse Paddle faster, I hear banjos playing!
SUNOIL Champion Author Toledo Posts:2,876 Points:1,466,505 Joined:Jul 2007	Message Posted: Sep 2, 2010 3:02:13 PM Ignore SUNOIL Report Abuse Is that why gas went up 16 cents today?
915Chief Champion Author San Diego Posts:6,061 Points:1,203,245 Joined:Aug 2008	Message Posted: Sep 2, 2010 3:00:40 PM Ignore 915Chief Report Abuse the speculation drum is beating....
Hugo40 Champion Author Kentucky Posts:5,275 Points:1,151,450 Joined:Aug 2008	Message Posted: Sep 2, 2010 2:59:18 PM Ignore Hugo40 Report Abuse Anything to justify higher prices.
BWD Champion Author Charleston Posts:3,116 Points:1,760,940 Joined:May 2004	Message Posted: Sep 2, 2010 2:52:00 PM Ignore BWD Report Abuse This sucks as usual.
biza4u Champion Author New Haven Posts:6,172 Points:1,163,885 Joined:Jan 2007	Message Posted: Sep 2, 2010 2:47:31 PM Ignore biza4u Report Abuse The last thing we need is higher oil prices
TFowler513 Champion Author Memphis Posts:2,582 Points:977,135 Joined:Mar 2008	Message Posted: Sep 2, 2010 2:28:34 PM Ignore TFowler513 Report Abuse Pure market manipulation!!!
ChuckGVT Champion Author Vermont Posts:4,368 Points:1,226,920 Joined:Apr 2008	Message Posted: Sep 2, 2010 2:28:34 PM Ignore ChuckGVT Report Abuse The economy still sucks and it is only getting worse. Wake up Reuters.
truck193 All-Star Author Michigan Posts:552 Points:382,555 Joined:May 2007	Message Posted: Sep 2, 2010 2:27:21 PM Ignore truck193 Report Abuse up up up and away gas went up at the pumps 23 cents an hour ago
firechief Champion Author New York Posts:1,802 Points:1,665,170 Joined:Mar 2004	Message Posted: Sep 2, 2010 2:23:35 PM Ignore firechief Report Abuse the good the bad & the ugly
suzyq2007 Champion Author Dallas Posts:5,020 Points:1,219,975 Joined:Oct 2007	Message Posted: Sep 2, 2010 2:19:05 PM Ignore suzyq2007 Report Abuse I am sure they will raise gasoline prices
EssexAdri Champion Author Virginia Beach Posts:1,025 Points:255,725 Joined:Jul 2010	Message Posted: Sep 2, 2010 2:18:21 PM Ignore EssexAdri Report Abuse so why is it when other countries' economies get a little better or take only a small hit, ours takes a big hit? and why doesn't it work in reverse? our economy is the one that has been driving the world's economy for more than 2 generations. where's the disconnect?
10k Champion Author North Carolina Posts:16,595 Points:1,787,870 Joined:May 2006	Message Posted: Sep 2, 2010 2:16:46 PM Ignore 10k Report Abuse baitmn: exactly-and i am one of those 10%+