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Post by bot on Feb 3, 2017 22:16:05 GMT -5
Dow regains 20,000 level as broader market ends firmly higher on bank rally
U.S. stocks closed higher on Friday, with the Dow returning above the 20,000 level in a broad rally that lifted major indexes into positive territory for the week. The move higher followed a stronger-than-expected jobs report and news that President Donald Trump had taken steps to roll back financial industry regulations, including the Dodd-Frank Act. Goldman Sachs Group Inc. was the biggest gainer among Dow components, jumping 4.6%, while J.P. Morgan Chase & Co. rallied 3.1%. The overall financial sector surged 2% as the top-performing sector of the day. The Dow Jones Industrial Average climbed 185.45 points, or 0.9%, to 20,070.43. The S&P 500 rose 16.43 points to 2,297.28, a rise of 0.7%. The Nasdaq Composite Index ended 30.57 points higher at 5,666.77, a gain of 0.5%. For the week, the Dow dipped 0.1% while both the S&P and the Nasdaq rose 0.1%.
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