Stocks have flat opening Friday following record-setting week

Stocks have flat opening Friday following record-setting week

U.S. markets opened flat Friday morning, closing out a week that saw record highs for the S&P 500.

The Dow Jones Industrial Average opened down 29 points, or 0.1 percent, and the S&P 500 opened down 1 point, a fraction of a percentage point.

The ambivalence in the markets comes as the prospects for a fifth coronavirus emergency relief bill remain in question three weeks after key benefits expired, including $600 in additional weekly unemployment benefits.

Data released Thursday showed that the number of initial unemployment claims ticked up last week, marking the 21st nonconsecutive week that claims surpassed 1 million, a figure that had never been reached prior to the pandemic.

Notes from the Federal Reserve bank’s last meeting indicated broad agreement from the governors that more stimulus was necessary and that the economy faced a rough road ahead.