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Stocks rally as President Trump nominates Jerome Powell for Federal Reserve chair

tarabird/iStock/Thinkstock(NEW YORK) -- As President Trump spent his Thursday naming Jerome Powell the new Federal Reserve Chairman, stocks rallied on Wall Street, with a new all-time high for the Dow.

The Dow Jones Industrial Average closed at 23,516.26, a new record. That mark is 81.25 higher than it opened the day.

The Nasdaq dipped 1.59, ending the session at 6,714.94, while the S&P 500 rose slightly, gaining 0.49 on the day.

Whole Foods held a National Hiring Day on Thursday, planning to add 6,000 new employees. Many were hired on the spot.

The Mall of America will be closed this Thanksgiving. All 15,000 employees will get to spend the holiday with their loved ones.

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