S&P 500 record | GameStop continues to slide | Merck's Frazier to retire

U.S. stocks rose on Thursday, building on a three-day winning streak, as investors assessed a new batch of corporate earnings and solid economic data

VIEW IN BROWSER | SUBSCRIBE THU, FEB 04, 2021 EVENING BRIEF AS OF THU, FEB 04, 2021 • 04:19 ET DJIA 31055.86 +1.08% +332.26 S&P 500 3871.74 +1.09% +41.57 NASDAQ 13777.74 +1.23% +167.20   Most Active DOW NAME LAST CHG %CHG AAPL 137.39 +3.45 +2.58% INTC 58.79 +1.46 +2.54% MSFT 242.01 -0.99 -0.41% S&P 500 NAME LAST CHG %CHG F 11.37 +0.17 +1.52% AAPL 137.39 +3.45 +2.58% GE 11.45 +0.25 +2.23% NASDAQ NAME LAST CHG %CHG AAPL 137.39 +3.45 +2.58% QCOM 147.97 -14.33 -8.83% AMD 87.84 -0.05 -0.06%   EDITOR'S NOTE The S&P 500 rose for a fourth day on Thursday, touching a record as investors cheered a fresh batch of corporate earnings and better-than-expected economic data. Jobless claims came in at 779,000 for the week ended Jan. 30, below the 830,000 estimate from economists surveyed by Dow Jones.   Goldman Sachs expects the strength in stocks to continue, telling clients the fresh bull market has a long way to go. "We believe that we are still in the early stages of a new bull market, transitioning from the 'Hope' phase to a longer 'Growth' phase as strong profit growth emerges," said the firm's chief global equity strategist, Peter Oppenheimer, said in a note. Goldman sees six specific pockets of the market that will have larger-than-average upside this year in the economic recovery, including a preference for equities over bonds.   Investors are also breathing a sigh a relief that some of the speculative trading last week is coming back down to Earth this week. Shares of GameStop dropped more than 42% on Thursday, bringing its weekly losses to more than 80%. The latest price decline came even after trading app Robinhood rolled back some of its limits on the stock. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald TOP NEWS  S&P 500 jumps 1% to a record high, posts its fourth positive day in a row GameStop falls 42% more despite easing of broker restrictions, down more than 80% this week Merck's Kenneth Frazier to retire as CEO effective June 30 Jobs growth likely rebounded in January, but the extent of the recovery depends on hotels and restaurants Koss family and company's execs cash in $44 million in stock during short squeeze frenzy How investors can trade the Apple Car Democrats' $50,000 student loan forgiveness plan would make 36 million borrowers debt-free Goldman says the bull market is still in the early stages, gives six trades to play it Airlines, labor unions push for a third round of federal aid with travel demand still depressed Nordstrom shares tumble as 2021 sales outlook disappoints, retailer sees bigger shift to Rack   TOP VIDEO Jim Cramer on Apple getting into autonomous vehicles   CNBC PRO Exxon's 7% dividend yield, among the largest in the S&P 500, is safe, according to several analysts   SPECIAL REPORTS SpaceX says its Starlink satellite internet service now has over 10,000 users Role of medical drones in global Covid vaccine campaign is growing   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS