Stocks Hit Record Highs at Open

U.S. stocks surged to a fresh record high at open on Thursday as investors shrugged off concerns about conflict in the Middle East. The Dow Jones Industrial Average lately rose 141.69 points, or 0.49%, to 28,886.78. The S&P 500 added 16.04 points, 0.49%, to 3,269.09. The Nasdaq Composite jumped 69.79 points, or 0.76%, to 9,199.03.

Oil futures on Thursday were swinging between small gains and losses as traders digested data that revealed a big jump in crude stockpiles in the U.S., and as Mideast tensions saw some apparent easing. West Texas Intermediate crude for February delivery fell 7 cents, or 0.1%, to $59.54 a barrel. March Brent crude lost 14 cents, or 0.2%, at $65.30 a barrel.

The ADP/Moody’s private employment report Wednesday showed private sector jobs rose by 202,000 in December, far exceeding consensus expectations for 160,000 and the prior month’s upwardly revised level of 124,000.

Sales of Apple Inc’s iPhone in China in December jumped more than 18% year on year, government data showed on Thursday. Apple shipped roughly 3.2 million phones in China in December.

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