This article was originally published on this site

Stocks rose convincingly Friday on strong economic data points, one day after tumbling on a report that President Joe Biden was looking to raise capital-gains taxes.

The Dow Jones Industrial Average rose 227.59 points, or 0.67%, to close at 34.034.49 The S&P 500 gained 45.19 points, or 1.09%, to end at 4,180.17; the index set an intraday record of 4,194.17, although it ended shy of a record close. The Nasdaq Composite soared 198.40 points , or 1.44%, to close at 14,016.81. The biggest gainer in the S&P 500 was bank-holding…