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Optimism over firming U.S. economy lifts stocks to record high
CBSN
The S&P 500 and Nasdaq closed at record highs on Monday, with stocks sustaining their momentum amid a rebound in corporate profits and brightening outlook for the U.S. economy.
Along with lifting bullish investors, stocks' strong performance will reassure the White House as it pushes ahead with an ambitious agenda to invest trillions of dollars in infrastructure and to reform taxes. Stocks have had their best run during President Joe Biden's first 100 days in office than since the Eisenhower administration in the 1950s, according to CNBC, citing FactSet data. With millions of vaccines going out daily and trillions of dollars worth of government-led economic support being paid out, investors have turned much of their attention to how well the global economy — and corporate earnings — will do in the recovery. Corporate profits in the S&P 500 are expected to be up 24% from this time a year ago, according to FactSet.More Related News

Trump's military parade tomorrow isn't the first in the U.S. — but they're rare. Here's a look back.
Washington — President Trump is hosting a parade celebrating the 250th anniversary of the U.S. Army on Saturday, bringing tanks and soldiers to the streets of Washington, D.C., for the capital's first major military parade in more than three decades.

A military parade through the streets of Washington, D.C., is being held to celebrate the U.S. Army's 250th anniversary on Saturday, June 14 — which also happens to be President Trump's 79th birthday. Army officials say about 6,600 soldiers, 150 vehicles and more than 50 aircraft are set to participate.