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Dow, S&P, Nasdaq close at record highs

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The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite closed at record highs on Inauguration Day.

The stock increases come as President Joe Biden plans to spend $1.9 trillion on a stimulus package that would combat the COVID-19 pandemic and inject funds into the economy.

The Dow gained nearly 1%; the S&P 500 finished up 1.4%; and the Nasdaq rose 2%.

Read more from MarketWatch.

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