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 Stocks opened modestly higher Thursday after sweeping to a fresh set of records Wednesday. The Dow Jones Industrial Average gained 24 points, 0.1%, to open near 31,217, while the S&P 500 was up 6 points, 0.2%, at about 3,858. The Nasdaq Composite jumped 64 points, 0.5%, to trade near 13,521. Wall Street expects the new presidential administration to deliver a fresh round of fiscal stimulus and a more muscular COVID-19 response, but corporate earnings and incoming economic data remain mixed. The number of Americans filing for first-time jobless benefits ticked down in the most recent week, but remained sharply elevated, the Labor Department said Thursday. But builders broke ground on more new homes, a sign of strong demand and an economic growth engine itself.
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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CarGurus Inc. said late Thursday that its board of directors has appointed Jason Trevisan as the company's chief executive, with founder Langley Steinert becoming executive chairman. Steinert will "remain involved" in the running of company, focusing on longer-term strategy, the online car marketplace said, and continue to serve as board chair. Trevisan was CarGurus' chief financial officer. Scot Fredo, senior VP of financial planning and analysis, was promoted to CFO, CarGurus said. Shares of CarGurus were flat in the extended session after ending the regular trading day down 0.1%.
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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