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October 3, 2017
NEW YORK (AP) — U.S. stocks set more records Monday as health care companies and banks continued to surge as investors grew more optimistic about the recovery in manufacturers.
Stocks got a boost after the Institute for Supply Management said U.S. factory activity hit a 13-year high in August as hurricanes disrupted supplies but drove up demand for manufactured goods. Investors snapped up shares of companies that are linked to more rapid economic growth, like banks and health care and industrial companies as well as smaller, U.S.-focused companies. High-dividend stocks, which are traditionally considered safer and more cautious investments, lagged the rest of the market. Energy companies missed out on the gains as investors worried that oil supplies are rising.
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