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June 21, 2018

Tech, media firms lead stocks

By MARLEY JAY
AP Markets Writer

NEW YORK — U.S. stocks rose Wednesday as investors bet that technology companies and small, domestically-focused firms will continue to do well even if the trade dispute between the U.S. and China gets worse. Media companies jumped after Disney reached a new deal with Twenty-First Century Fox.

Facebook, Microsoft and Alphabet led the rally in technology companies as the Nasdaq composite topped the all-time high it set last week. Disney sweetened its deal to buy Fox's entertainment businesses to $71.3 billion, topping an offer from Comcast earlier this month. Other media companies like Netflix and Viacom climbed as investors hoped more deals will follow.


 
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