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Stocks are climbing after Bannon's ouster

US stocks climbed on reports that White House Chief Strategist Steve Bannon is being replaced. The S&P 500 rose as much as 0.4% on the news, adding to earlier gains. The benchmark index was up 0.35% to 2,438.28 as of 12:49 am ET. Any lessening of Bannon's influence is seen as beneficial to stock prices and the corporate earnings that drive them. His anti-global trade agenda was viewed as having the potential to affect the bottom line for some of the US's biggest companies, which also are the nation's most active exporters.
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