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The Boston Globe

Business

Workers’ gains could fuel economic growth

Companies may be poised to rely less on cost-cutting, more on consumer spending

NEW YORK — Wall Street is hopeful that US companies, after years of gaining ground at the expense of their employees, will start to succeed because of the rising fortunes of those workers.

Less than a week after the Dow Jones industrial average hit its record high, the broader Standard & Poor’s 500-stock index is on track to surpass its own 2007 high. The reason, in no small part, is because of investor confidence in the growing economic strength of US households.

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