Stocks open higher as Dow aims to set new record

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U.S. stocks rose at the start of Thursday’s session as investors focused on the prospect of a new fiscal stimulus package under a Biden administration. The S&P 500 rose 0.2% to 3,818. The Dow Jones Industrial Average advanced 122 points, or 0.4%, to 31,182, passing its record closing high of 31097.97 set last week. The Nasdaq Composite added 0.4% to 13,182. President-elect Joe Biden is set to lay out details of more fiscal stimulus Thursday evening. Early reports suggest he will propose around $2 trillion of new spending. BlackRock Inc. shares fell even after the asset manager, with $8.7 trillion in assets under management, reported fourth-quarter profit and revenue that beat expectations.
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