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January 7, 2021

Stocks rally, despite chaos in DC, on hopes for stimulus

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Wall Street rallied Wednesday on expectations of more stimulus for the economy, though the enthusiasm was dampened by chaotic scenes in the nation's capital.

The S&P 500 rose 0.6% after having been up 1.5% earlier, while the Dow Jones Industrial Average closed at a record high. Investors piled into stocks of smaller companies, banks and other businesses that would be winners if Democrats push through more economic aid for hurting Americans and businesses. The yield on the 10-year Treasury topped 1% for the first time since March.


 
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