U.S. stocks open mixed after record run

U.S. stocks opened narrowly mixed Thursday as investors became cautious after recent sharp gains.

Shortly after the opening bell, the Dow Jones Industrial Average rose 9.77 points, or 0.05 percent, to 20,621.63. The S&P 500 edged down 0.20 points, or 0.01 percent, to 2,349.05. The Nasdaq Composite Index added 4.09 points, or 0.07 percent, to 5,823.53.

On Wednesday, all three major indices ended at record highs. The tech-heavy Nasdaq extended its record run to a seventh straight session, while both the blue-chip Dow and the broader S&P 500 closed at records for five consecutive days.

U.S. stocks have posted solid gains since Donald Trump won the presidential election, as investors bet that he would pursue massive corporate tax cuts, deregulation and infrastructure spending.

On the economic front, in the week ending Feb. 11, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 5,000 from the previous week's unrevised level of 234,000, the U.S. Labor Department reported Thursday.

The four-week moving average was 245,250, an increase of 500 from the previous week's revised average.

Meanwhile, U.S. privately-owned housing starts in January came in at a seasonally adjusted annual rate of 1,246,000, beating market consensus, the Commerce Department announced Thursday. Endi