Stocks open sharply higher on hopes for election resolution

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U.S. stocks jumped at the open, extending a week-long rally, as the presidential election appeared to move into closing innings. The Dow Jones Industrial Average gained 364 points, 1.3%, to open near 28,211, while the S&P 500 jumped 1.5%, 53 points, trading near 3,496. The Nasdaq Composite continued its winning streak, gaining nearly 2% or 226 points, to open near 11,816 . Shares of General Motors Inc. rose 2.6% after the automaker reported a profit that beat expectations. Meanwhile, the number of Americans filing for first-time jobless benefits ticked down by 7,000 to 751,000, but missing forecasts for a much steeper drop, and pointing to the challenges still facing the economy eight months into the pandemic.
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