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(Bloomberg) -- U.S. stocks rose to an almost five-week high as corporate deals helped fuel a global rally being underpinned by optimism for more fiscal stimulus. Treasury yields edged lower and the dollar was little changed.
Bulls are now back in control of a market that’s increasingly betting that a Joe Biden presidential victory and gains by Democrats in Congress will be good for equities. The scenario seems to be quelling volatility even as risks from a split in government to a resurgence of coronavirus cases threaten the economic rebound.