Stocks surge...oil falls...Manufactring contracts slightly

NEW YORK (AP) Stocks have rallied today, with help from falling crude oil prices. The Dow had been up more than 200 points in the early going, but has backed off those levels.

NEW YORK (AP) Oil prices have dropped to the lowest level in five months. Light, sweet crude for October delivery was recently down more than $6 to below $109 a barrel.

BEAUMONT, Texas (AP) It is estimated that residential and commercial damages from Hurricane Gustav could trigger up to 10 billion dollars in insurance claims. That's well short of the damage from Hurricane Katrina, which cost insurers 41 billion dollars.

NEW YORK (AP) The Institute for Supply Management says U.S.

manufacturing activity slipped in August. The group's index dipped slightly to 49.9 from 50.

TRENTON, N.J. (AP) Pfizer is no longer using a celebrity as it resumes television ads for the world's top-selling drug, cholesterol fighter Lipitor. The company pulled ads earlier this year featuring artificial heart inventor Dr. Robert Jarvik, who holds a medical degree but never completed licensing requirements to practice medicine.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 09-02-08 1301CDT | save this article / add to your favorites list