S&P, Nasdaq close at record highs on optimism about Biden stimulus plan

The Dow Jones Industrial Average fell 12.37 points, or 0.04%, to 31,176.01, the S&P 500 gained 1.22 points, or 0.03%, to 3,853.07 and the Nasdaq Composite added 73.67 points, or 0.55%, to 13,530.92.

NEW YORK: The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery.

The Dow was also poised for a record until falling into negative territory in the final minutes of trading.