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S&P 500, Nasdaq hit record highs as taper fears calm

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Reuters

By Shashank Nayar (Reuters) – The S&P 500 and Nasdaq hit record highs on Monday as dovish remarks from Federal Reserve chief last week bolstered optimism in an economic rebound and eased fears of a sudden tapering in monetary stimulus. Apple Inc, Microsoft Corp, Amazon.com, Google-owner Alphabet Inc and Nvidia rose between 0.6% and 1.3%, helping the tech-heavy Nasdaq outperform the S&P 500 and the Dow. High-growth tech stocks tend to benefit from expectations of lower rates because their value rests heavily on future earnings. The benchmark S&P 500 is tracking its longest monthly winning strea…

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