US stocks set records as fear recedes from market; gold dips

US stocks set records as fear recedes from market; gold dips
Trader Timothy Nick works in his booth on the floor of the New York Stock Exchange, Thursday, Jan. 9, 2020. Stocks are opening broadly higher on Wall Street as traders welcome news that China's top trade official will head to Washington next week to sign a preliminary trade deal with the U.S. (Source: AP Photo/Richard Drew/AP)

NEW YORK (AP) - Stocks around the world climbed on Thursday, and U.S. indexes hit records as markets continued a rally sparked after the United States and Iran appeared to step away from the edge of war.

Money flowed into riskier investments, such as technology stocks, and trickled out of traditional hiding spots for investors when they’re nervous, such as gold.

A measure of fear in the stock market had its largest drop in a week.

The S&P 500, Dow Jones Industrial Average and Nasdaq all set records as the market’s focus turns to the health of the economy and corporate profits.

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