Wall Street opens August with a big-time rally

NEW YORK — The stock market began August with a huge rally after reports from around the world revived investors' faith in the global recovery.

The Dow Jones industrial average rose 208 points Monday. All the major stock indexes rose about 2 percent.

The first day of the month brought a stream of news that reassured investors who have worried about a slowing of economic growth in the U.S., China and Europe. Manufacturing was a common thread:

• The Institute for Supply Management's index of U.S. manufacturing activity during July was better than the market expected. Traders were pleased because the report still showed that manufacturing is growing. (more)