Stocks open first trading day of year close to record highs as investors cheer China stimulus - MarketWatch

Major U.S. stock benchmarks opened higher Thursday, a day after markets were closed for New Year's Day, following news that China's central bank will loosen requirements for banks to set aside a portion of assets as reserves, a move expected to increase lending and boost growth in the world's second-largest economy. The Dow Jones Industrial Average DJIA, +0.66% rose 130 points, or 0.5% to 28,664, the S&P 500 index SPX, +0.52% advanced 15 points, or 0.4% to about 3,245 and the Nasdaq Composite index COMP, +0.84% gained 60 points, or 0.7% to hit 9,031. Data on new applications for jobless benefits fell to a four-week low, reinforcing perceptions of a tight labor market and a healthy U.S. consumer.

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2020-01-02 14:34:00Z
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