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Hours after three Israeli women were released from captivity in Gaza on Sunday, roughly 90 Palestinian prisoners were freed, Israel’s prison service said in a statement early Monday morning, as a long-awaited cease-fire agreement between Israel and Hamas went into effect. The truce prompted celebrations in Gaza, relief for families and hope for an end to a devastating 15-month war.
Al Jazeera, the Qatar-funded Arabic broadcaster, streamed footage of Red Cross buses ferrying prisoners out of Ofer prison near Jerusalem after midnight on Monday.
U.S. stocks ended up Friday, the last day of trading under U.S. President Joe Biden, as investors headed into a three-day weekend that will see Donald Trump inaugurated Monday.
The Dow Jones Industrial Average rose 334.70 points, or 0.8%, to close at 43,487.83.
The S&P 500 rose 59.32 points, or a sharp 1%, to finish at 5,996.66.
The Nasdaq Composite rallied 291.91 points, or 1.5%, to end at 19,630.20.
For the week, all three indexes booked gains as investors appeared relieved by a retreat in Treasury yields. The Dow booked a 3.7% weekly gain, while S&P 500 climbed 2.9% and the technology-heavy Nasdaq advanced 2.4%, according to Dow Jones Market Data. The Dow and S&P 500 each had their best week since early November, when Trump’s victory in the U.S. election sparked a strong rally.
In the bond market, the yield on the 10-year Treasury note fell 16.1 basis points this week to 4.610%, according to Dow Jones Market Data. The U.S. stock and bond markets will be closed Monday in honor of Martin Luther King Jr. Day.
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