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S.&P. Closes at a Record, as Profits Defy Turmoil
For much of the year, the stock market has been on the ropes. Trade wars have erupted, the Federal Reserve raised rates, emerging market currencies collapsed, and major technology firms faced regulatory scrutiny — and, in the case of Amazon, presidential broadsides via messages on Twitter. Investors quailed at times, sending stocks down by as much as 10 percent. But the nine-year-old bull market never completely crumbled. By April, stocks had started a fresh climb. And after a percent rise on Friday, the Standard & Poor’s 500-stock index closed at a record high of 2,874.69 points, reflecting investor faith in a ... (full story)