• Dow sets new record, Ford, GM rally

  The Dow Jones Industrial Average hit a fresh record on the second trading day of the year, while the S&P 500 ended little changed as investors rotated out of tech and growth names into cyclical companies, pushing the Nasdaq Composite down 1.3%. Automakers were strong as Ford rallied 11.7% after announcing plans to double production of its electric version of the F-150 truck. While General Motors rose 7.5% ahead of its debut of the Chevrolet Silverado electric pickup later this week.

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