Stocks open higher on stimulus optimism

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U.S. stocks rose at the open Thursday as investors weighed the prospects for fiscal stimulus and a more certain election outcome. The Dow Jones Industrial Average gained 96 points, 0.3%, to open near 28,400, while the S&P 500 was up 16 points or 0.5%, near 3,435. The Nasdaq Composite added 77 points, 0.7%, and was trading near 11,442. Investment bank Morgan Stanley announced Thursday morning that it would acquire Eaton Vance Corp., a Boston-based asset manager, in a cash-and-stock deal worth approximately $56.50 a share to Eaton Vance shareholders. Eaton Vance shares surged nearly 50%, to $60.11, after the bell. First-time applications for jobless benefits fell in the most recent week, the Labor Department said Thursday morning, but at a slower pace than in previous weeks, suggesting the economic rebound may be losing momentum.
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