SUMMARY
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US stocks close at record highs on the first day of August, ahead of a widely-anticipated government job report on Friday. The S&P 500 ends above 1,700 after soaring 21.14 points or 1.25%, while the Nasdaq ends above 3,000. The Dow Jones Industrial Average goes up 128.48 points, or 0.83%, to finish at 15,628.02. CNBC reports the rising asset prices will help propel a cycle of confidence in the market. Among positive signs for the US economy is the drop in the number of filing new claims for unemployment, the lowest in nearly 6 years. The pace of growth in the manufacturing sector also speeds up in July to its highest level in two years.
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