Thornburg Investment Management Co-Head of Investments Jeff Klingelhofer in MarketWatch

Dow climbs 200 points, while Nasdaq retreats from record, as Thanksgiving trading kicks off

Biden nominates Powell to second term as Fed chairman

U.S. stock benchmarks were mostly higher Monday afternoon as investors kicked off a holiday-shortened week, though the Nasdaq Composite turned lower after hitting an intraday record in early activity.

Gains for equities came as Federal Reserve Chairman Jerome Powell was nominated by President Joe Biden for a second term as head of the U.S. central bank, as had been widely expected.

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