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Daily Market Update 8/2/10

Mortgage rates rose slightly Monday as stocks rallied on stronger than expected economic news. The July ISM manufacturing index fell less than forecast to 55.5 from 56.2 in June. Readings above 50.0 indicate expansion in the manufacturing sector. Construction Spending rose 0.1%. A decrease of 1.0% had been expected. No other data will be released today.

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