• S&P, Nasdaq hit records, Biden taps Fed's Powell for second term

  All three of the major U.S. stock averages rallied as the shortened Thanksgiving trading week kicked off. Investors celebrated as President Biden tapped Jerome Powell for a second term as head of the Federal Reserve, Lael Brainard has been selected as vice-chair. The 10-year treasury also ticked higher nearing 1.6%. Elsewhere, oil held steady at the $75 per barrel level.

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