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Wall St rallies on strong economic data
HIGH HOPES:
Forty percent of the S&P 500’s market cap are to issue their earnings results next week, and expectations have been growing in the past few weeks
Reuters
US stocks rallied on Friday, driving the S&P 500 to a near-record closing high, after factory data and new home sales underscored a booming economy while megacap stocks rose in anticipation of strong earnings reports next week.
The bounceback follows a sell-off on Thursday when reports that US President Joe Biden plans to almost double the capital gains tax spooked investors.
Analysts dismissed the slide as a knee-jerk reaction and pointed to the healthy outlook. ....

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