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US Markets Back Off Slightly After Trump Election Rally

The three major U.S. stock market averages edged lower in afternoon trading Friday, even though the Nasdaq Composite Index hit an intraday record high earlier. Overall, the Standard and Poor's 500, Dow Jones industrial average and Nasdaq all closed higher for the second week in a row. In general, U.S. stocks have been enjoying a strong rally since President-elect Donald Trump's surprise victory last week. His proposals to increase infrastructure spending and reduce taxes are...

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