Prior month 53.9Manufacturing PMI flash 53.2 versus 53.9 estimate.Services PMI 56.8 versus 54.0 estimate. Prior month 54.6.Composite 56.0 versus 54.5 prior. The manufacturing index was lower than expectations, but the services in the composite indices were higher. All 3 indices remain above the 50 level indicative of growth.Chris Williamson, Chief Business Economist at S&PGlobal Market Intelligence commented on the report saying:“US business is booming, with firms reporting the fastestoutput growth for over four years so far in the thirdquarter as the expansion picked up further momentum inAugust. The survey data for the third quarter are currentlypointing to annualized growth approaching 3.0%, upsolidly from the 1.5% pace seen in the second quarter.Jobs growth has also shown a welcome revival in August,with employers gaining in confidence as concerns fadeover the negative economic impacts of tariffs andthe conflict in the Middle East. However, the latter inparticular remains a key area of concern for businesses,especially via the impact on supply lines and energyprices. Supply delays were again reported in August toone of the greatest extents seen over the past four years,clearly constraining output in many companies. Pricepressures, while fading, also remain elevated and proneto renewed upward pressures should energy prices riseagain.“Growth momentum has meanwhile shifted frommanufacturing to services between the second and thirdquarters. As reduced safety stock building and supplydelays dampen factory production growth, the servicesector is now playing a key role in driving a sustained USexpansion, underscoring a dependency on consumerspending and financial services growth.”Overall the manufacturing was lower, the indices remain solidly in the a positive and the comments are more constructive from the flash estimate. For more, click here. Taking a look around the markets, the 10 year yield is now up 1.8 basis points at 4.716%, the 30 year yield is up 2.3 basis points at 5.260%. The 2 year yield is also higher by close to 3 basis points to 4.214%.In the US stock indices, the Dow industrial average is now up 0.71% and leading the way, but shares are well off pre-market levels. The top five gainers in the Dow in early trading are:Goldman Sachs (GS): +2.36% at $1,025.64Cisco (CSCO): +1.95% at $111.73Merck (MRK): +1.58% at $151.34Caterpillar (CAT): +1.31% at $826.07Nike (NKE): +1.19% at $40.69Goldman Sachs leads the Dow higher, gaining more than 2%, while Cisco and Merck are also providing solid support. Caterpillar and Nike round out the top five performers, each gaining more than 1%.Bitcoin is up 6.48% and related bitcoin related stocks are higher. Below are a list of some of the gainers. Robinhood Markets (HOOD): +12.84% at $107.31Moderna (MRNA): +11.21% at $148.26Coinbase Global (COIN): +9.97% at $189.53Strategy (MSTR): +6.90% at $120.14Albemarle (ALB): +5.36% at $141.38Alcoa (AA): +5.13% at $53.15SoFi Technologies (SOFI): +4.72% at $18.76Ross Stores (ROST): +4.22% at $238.65Nebius (NBIS): +3.42% at $227.63Crypto-related equities are prominent among today's movers as Bitcoin rallies sharply. This article was written by Greg Michalowski at investinglive.com.