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Barchart
Barchart
Rich Asplund

Stocks Extend Post-Election Gains Ahead of the FOMC Meeting

United States China EPAM Lyft MRNA SP 500 US Federal Reserve Vistra Corp VST

The S&P 500 Index ($SPX) (SPY) today is up +0.36%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.84%.

Stocks today are moderately higher, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting new all-time highs. Stocks today added to their post-election gains on speculation President-elect Trump will boost corporate profits.  The strength of chip stocks is also boosting the overall market, led by a +2% jump in Qualcomm after it forecasted Q1 revenue above consensus.  Today’s US economic news was mixed.  Weekly jobless claims rose less than expected, but Q1 nonfarm productivity rose less than expected, and Q1 unit labor costs rose more than expected.

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