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Earnings ease stagflation worries, Bitcoin close to record high, and Democrats move to break stalemate.

The S&P 500 Index closed within half a percent of an all-time high as solid corporate earnings helped ease concerns over high inflation and a reduction in Federal Reserve accommodation. In corporate results today, Tesla Inc.’s report will be closely watched for any of the chip problems plaguing other automakers, as well as updates on the company’s new factories in Texas and Germany. International Business Machines Corp., Verizon Communications Inc. and Abbott Laboratories are among the many other companies reporting.