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(AP) – Stocks rallied to more record highs Thursday on Wall Street as a suite of stellar data suggested the recovery for the economy and corporate profits is accelerating.

The S&P 500 rose 1.1% Thursday and the Dow Jones Industrial Average added 0.9%, both reaching all-time highs.

Expectations are very high on Wall Street that the economy is in the midst of exploding out of the cavern created by the pandemic.

New reports only bolstered those expectations, including ones showing how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting.

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