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 Dow and S&P rise tepidly as economy data signal latest COVID wave hit job market
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Investors weigh up weak data with an expected boost from stimulus and Covid vaccines
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 President-elect Joe Biden on Thursday said Brian Deese is his pick for director of the National Economic Council. News of the pick had leaked out in recent days. The director of the NEC typically serves as a gatekeeper, bringing together all economic-policy decisions facing an administration. The post doesn't require Senate confirmation. Deese worked as the NEC's deputy director during the Obama administration and more recently has been an executive at BlackRock Inc., the world's largest money manager. "Brian is among the most tested and accomplished public servants in the country -- a trusted voice I can count on to help us end the ongoing economic crisis, build a better economy that deals everybody in, and take on the existential threat of climate change in a way that creates good-paying American jobs," Biden said in a statement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 The U.S. hit some grim milestones in the coronavirus pandemic in a single day Wednesday, with a record number of fatalities and more than 100,000 COVID-19 patients in hospitals for the first time since the start of the outbreak, as a leading public health official warned of a cold, hard winter to come.
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First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000.
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U.S. stock-indexes rise Thursday morning, pushing the S&P 500 and Nasdaq to new records, as investors took stock of the latest American employment data and assessed the prospects for another round of coronavirus relief from Washington lawmakers.
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