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At 2:01 p.m. the Dow Jones industrial average rose4.85 points, or 0.03 percent, to 17,395.37, the S&P 500 gained 4.35 points, or 0.22 percent, to 2,022.4 and the NasdaqComposite added 15.17 points, or 0.33 percent, to4,645.91.
Historically, midterm elections correspond with market strength. Barclays noted that since 1928, the S&P 500 has posted a median return of 7 percent in the 90 days after a midterm, with returns positive 86 percent of the time.
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When it all began to fall apart, Dolan, desperate to change the narrative and avoid scrutiny, reached out to Jackson and essentially offered him a blank check. And although Jackson sounds sincere when he speaks fondly of his affinity for the Knicks, New York City, the fans and Red Holzman, it still took Dolan between $12 million and $15 million per season to convince the 69-year-old Hall of Fame coach to become the Garden’s latest savior.