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January 24, 2023
Wall Street kicked off the week with a broad stock market rally Monday, as investors look ahead to a busy week of company earnings reports and grow more confident that the Federal Reserve will turn the screws on the economy less aggressively.
The S&P 500 rose 1.2%, led by tech companies. The gains more than made up for the benchmark index's losses last week. The Dow Jones Industrial Average rose 0.8%, while the tech-heavy Nasdaq composite closed 2% higher. Small company stocks also rose, pushing the Russell 2000 index up 1.3%.
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