Market Digest: PCG, REGN

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Stocks rallied on Thursday on rising retail sales boosted by higher fuel prices. In other news, Arm Holdings began trading on the Nasdaq in an IPO that was valued at $54 billion. The shares opened above $56 and closed at $63.59. The success of this IPO has given a boost to the tech sector and optimism that the IPO market will recover. The S&P 500 closed up 0.8%, the Dow was up 0.96% and the Nasdaq rose 0.8%. Crude oil passed $90 per barrel, while gold fell almost $1 to $1931 per ounce.

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