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The Dow Jones Industrial Average closed slightly higher Monday, clinging to gains after President Joe Biden announced that he picked Federal Reserve Chair Jerome Powell to serve a second term. The Dow DJIA, +0.05% gained less than 0.1%, while the Nasdaq Composite COMP, -1.26% , a technology-heavy index viewed as sensitive to moves in interest rates, closed about 1.3% lower, and the S&P 500 SPX, -0.32% slipped about 0.3%, according to preliminary data from FactSet.
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