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Stock Market Climbs On News Of Biden Infrastructure Plan

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Remember when Donald Trump said the stock markets would crash if Joe Biden became president?

From the New York Times:

A rally in big technology stocks, a tailwind of economic optimism following the latest big spending plan from the Biden administration and a jump in oil prices combined on Thursday to lift Wall Street to another record, this one punctuated by the S&P 500 index’s close above 4,000 for the first time.

The Nasdaq composite climbed 1.8 percent, bringing its gain over the past two days to more than 3 percent. The broader S&P 500 rose 1.2 percent, to 4,020.

“Round numbers can be big psychological barriers for markets, so breaking 4,000 could provide a confidence boost to stocks in the short term,” said Lule Demmissie, president of online banking and trading firm Ally Invest. “And we think the market has room to run longer term, too.”

All things considered, its worth noting that Biden doesn’t point to stock market moves and claim responsibility for them as Trump often did.

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