Dow, Nasdaq hit record highs as focus turns to Biden's stimulus plan

The Dow and the Nasdaq hit record highs on Thursday in anticipation of President-elect Joe Biden's pandemic aid proposal to jump-start a struggling economy after data highlighted weakening labor market conditions. The Labor Department's weekly jobless report showed the number of Americans filing for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in Covid-19 infections. However, the S&P 500 rose for the seventh time in nine sessions this year as investors count on Biden to...