Stocks Opened Higher, Dow Hit Record High

U.S. stocks opened higher on Thursday, with the Dow Jones Industrial Average hitting a record, as investors continued to digest Trump’s victory. The Dow lately gained 168.60 points, or 0.91%, to 18,758.29. The S&P 500 added 14.62 points, or 0.68%, to 2,177.88. The Nasdaq Composite advanced 37.30 points, or 0.71%, to 5,288.37.

The number of people who applied for unemployment benefits in early November fell by 11,000 to 254,000 and touched a one-month low, keeping the rate of layoffs near the lowest levels in decades.

Macy’s Inc. (M) reported third-quarter earnings that missed estimates. Net income was $15 million, or 5 cents per share, down from $117 million, or 36 cents per share, for the same period last year. Revenue was $5.63 billion, down from $5.87 billion last year.

Kohl’s Corp. posted better-than-expected profit in its third quarter, propelled by its back-to-school season. For the quarter ended in October, Kohl’s reported a profit of $146 million, or 83 cents a share, compared with $120 million, or 63 cents a share, a year earlier. Revenue fell 2.3% to $4.32 billion.